Sensex crashes over 1,000 points as Iran-US tensions escalate
Business
Indian stock markets took a big hit on Monday, with the Sensex dropping 1,048 points (1.3%) to a six-month low and the Nifty down 1.2%.
This wiped out ₹6.6 lakh crore in investor wealth after US-Israel airstrikes killed Iran's Supreme Leader, sparking retaliation and global market jitters.
Oil prices spike, putting pressure on Indian economy
The West Asia conflict is making oil prices spike—up 7% to an eight-month high—which could mean higher fuel costs and more inflation in India.
The rupee is under pressure, and companies like Indian Oil saw their stocks tumble.
Foreign investors pull out ₹3,300 crore
Foreign investors pulled out ₹3,300 crore on Monday as global markets turned shaky; almost all Sensex stocks ended in the red.
Vinit Bolinjkar said the Nifty could test its 24,500 support.