Conflict in West Asia Rattles Global Markets

Amid escalating tensions in West Asia, shares of oil marketing companies like Hindustan Petroleum, Bharat Petroleum, and Indian Oil plunged. This decline coincides with rising Brent crude prices and military actions by the US and Israel targeting Iran, leading to a broader market downturn.

Oil marketing company shares plunged after a brief respite, driven by rising crude prices amid escalating West Asian conflicts.

Hindustan Petroleum, Bharat Petroleum, and Indian Oil witnessed notable declines, while Brent crude surged to USD 89.36 per barrel. Paint stocks like Indigo and Kansai Nerolac also fell.

The BSE Sensex dropped 1,097 points and NSE Nifty shed 315.45 points as broader markets reacted to US-Israel military actions against Iran, intensifying regional tensions.

(With inputs from agencies.)