US-Iran Tensions Trigger Sharp Stock Market Fall

Indian benchmark indices declined sharply after renewed tensions between the United States and Iran rattled global markets. Following the US military strikes on Iranian facilities, Brent crude oil prices surged 2.6% to $76.1 per barrel, triggering weakness across major global equity markets.

The Sensex opened nearly 200 points lower on Wednesday and extended its losses. By 9:30 AM, it was down 592 points at 77,588. The Nifty also slipped 178 points to 24,220. Meanwhile, the Indian rupee was trading at 95.15 against the US dollar.

Among the gainers were Kalyan Jewellers, Info Edge, Zydus Life, Indus Towers, and Vodafone Idea. On the losing side, Hindustan Petroleum, BPCL, Mphasis, L&T Finance, and Ashok Leyland witnessed selling pressure. The Bank Nifty declined 391 points, while the Nifty Midcap Index fell 225 points.