Sensex Plummets 1,600 Points; Rupee Hits Record Low Amid Middle East Tensions
Indian stock markets experienced significant declines as escalating Middle East tensions and surging oil prices unsettled investors.
Indian stock markets opened sharply lower on Wednesday, with the Sensex dropping over 1,700 points and the Nifty 50 slipping 500 points, as escalating Middle East tensions and surging oil prices unsettled investors.
The Indian rupee also opened at a record low, sliding 55 paise to 92.02 per US dollar.
Infosys, BEL, and HCLTech were among the few gainers on the Sensex, while L&T, Tata Steel, IndiGo, and Shriram Finance led the list of top losers.
The market downturn was not confined to India; Asian equities extended losses throughout the week, reflecting a broader global selloff triggered by the crisis in the Middle East.
Investors are closely monitoring the situation, as further escalation could lead to increased volatility in global markets.