Israel-Hamas conflict rattles global markets; Sensex falls over 800 points
The Sensex slid 829 points on Thursday, capping a two-day loss of about 2,200 points amid reports of U.S.-Israel strikes and subsequent missile exchanges.
The conflict has rattled investors and sent shockwaves through India's stock market.
Foreign investors pull out nearly ₹22,000 crore
Big market drops like this hit investor confidence and can impact everything from your mutual funds to the cost of living.
Investors lost about ₹1.8 lakh crore on Thursday, and markets saw multi-day losses running into several lakh crore earlier in the week, and foreign investors pulled out nearly ₹22,000 crore just this month, putting extra pressure on the rupee and making imports like oil more expensive.
Crude oil prices rise to about $97 a barrel
Crude oil prices rose to about $97 a barrel as fears grew over possible supply blockages at the Strait of Hormuz, a vital route for global oil shipments.
Moody's warned that if this chokepoint closes, India could feel serious pain at the pump and beyond.
With most Sensex stocks falling (ICICI Bank, L&T, M&M, among the hardest hit), it's clear that global tensions are making Indian markets extra jittery right now.