Market Turmoil: Israel-Iran Conflict Triggers Decline in Indian Stock Market
In the wake of escalating tensions between Israel and Iran, India’s stock market has experienced a important downturn. The two primary indices,Nifty 50 and Sensex,have both dropped nearly 1%. As trading commenced on Friday, Nifty 50 plummeted by 216 points, while Sensex fell by 784 points. This decline has been attributed largely to rising crude oil prices, which surged nearly 10% following the recent attacks in Iran.
The ripple effects of this geopolitical strife are evident in the Indian market, where investors are feeling the pinch. The increase in crude oil prices has not only impacted stock indices but has also led to a spike in gold prices. Following the attacks, the price of 24-carat gold has risen by ₹1,500 per gram, while 22-carat gold has seen an increase of ₹1,437. As the situation unfolds, market analysts are closely monitoring these developments, emphasizing the need for investors to remain cautious amidst this volatile environment.
