Indian markets nearly 2% down after Donald Trump threatened Iran
Business
Indian markets opened deep in the red on Thursday, losing nearly 2% after US President Donald Trump threatened tough action against Iran.
This warning sent crude oil prices soaring and wiped out a massive ₹10 lakh crore in investor wealth within hours.
Indian banks financials and midcaps hit
The drop wasn't limited to one area: banks, financials, and mid-cap stocks all took a hit.
Big names like State Bank of India and Larsen & Toubro fell more than 3%, while IT stocks like HCL Technologies managed slight gains.
Foreign investors also pulled out over ₹8,000 crore, adding to the pressure as Brent crude crossed around $105 per barrel.