Indian equity markets came under sharp pressure on Wednesday after the conflict between the US and Iran intensified, raising concerns over energy supplies and global inflation. The Sensex fell sharply while the Nifty slipped below the 24,000 mark as selling spread across sectors.
According to Reuters, the Nifty 50 fell 0.89% to 23,841.40, while the Sensex declined 0.79% to 76,333.20 in early trade. All major sectors were under pressure as rising crude prices hurt investor sentiment.
Brent crude rose to around $95.4 per barrel, increasing concerns for India, which imports a large portion of its crude requirements. Higher oil prices could increase India’s import bill and create fresh pressure on inflation and the rupee.
Leave A Comment