Sensex plunges over 1,380 points after Donald Trump Iran warning
Business
Indian stock markets took a big hit on Thursday after US President Donald Trump warned of possible military action against Iran.
The Sensex dropped by over 1,380 points to 71,748, and the Nifty slid below 22,300 as investors reacted to the global uncertainty.
Foreign outflow ₹8,331cr from India
Trump's threat spooked investors worldwide and sent oil prices up nearly 5% to $105 a barrel.
This led foreign investors to pull out ₹8,331 crore from Indian stocks, putting extra pressure on the rupee.
While domestic institutional investors tried to soften the blow by buying ₹7,172 crore worth of shares, it wasn't enough.
Most stocks were in the red intraday as worries about global tensions lingered.