Sensex down near 0.2% as oil jumps, India VIX eases
Indian stock markets took a small dip on Wednesday, with Sensex down about 0.2% and Nifty slipping 7 points to 23,907.
The drop came as worries grew over rising tensions between the US and Iran, plus a jump in oil prices.
Despite the slide, market volatility actually eased a bit: India VIX fell 6%, showing investors aren't panicking just yet.
Gift Nifty futures fall 1.7%
Gift Nifty futures dropped 1.7%, hinting at a weaker opening for Friday.
The main reason? Fresh US strikes on Iran sparked retaliation and drone interceptions near the Strait of Hormuz, keeping traders on edge.
Citi says oil adds inflation pressure
Brent crude shot up over 3% to $97 per barrel, while WTI rose to nearly $92.
Experts at Citi say these higher oil prices are adding pressure on inflation—something to watch if you're tracking how global events affect your wallet.