Dalal Street bleeds! Sensex crashes over 700 points as West Asia conflict sparks investor panic
Mumbai/IBNS: The Indian stock market witnessed a sharp sell-off on Monday, with benchmark indices plunging at the opening bell as investor sentiment remained under pressure amid the escalating conflict in West Asia, media reports said.
Sensex, Nifty Open Deep in the Red
The BSE Sensex tumbled more than 700 points to 76,857 in early trade, while the NSE Nifty 50 slipped nearly 0.9 percent, reflecting broad-based weakness across sectors.
West Asia Conflict Weighs on Investor Sentiment
The decline came as investors remained cautious over the ongoing tensions in West Asia, which have heightened concerns about global economic stability and energy security.
Rising Oil Prices Add to Market Jitters
Crude oil prices moved higher as traders closely monitored the possibility of disruptions to global energy supplies through the Strait of Hormuz, a key maritime route for oil shipments.
The spike in oil prices further dampened market sentiment, raising fears of inflationary pressures and increased input costs for businesses.
US unleashes new wave of strikes on Iran
The US Central Command (CENTCOM) on Monday said it had completed a new wave of offensive strikes against Iran, hitting dozens of targets at multiple locations with precision munitions in an effort to degrade Tehran's ability to attack international shipping passing through the Strait of Hormuz.
In a further escalation of tensions in the region, Iran's Islamic Revolutionary Guard Corps (IRGC) said it had struck US military bases in Jordan, Bahrain and Kuwait in a multi-phase overnight operation, the MEHR news agency reported.
According to reports, the strikes destroyed fuel depots, ammunition bunkers, Patriot air-defence systems and a drone command centre.
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