Global Unrest Tanks Indian Stock Markets

Major Indian stock indices Sensex and Nifty plummeted over 3% due to escalating global crude prices and geopolitical tensions in the Middle East, leading to a significant market downturn and dampening investor mood. Foreign Institutional Investors contributed to the decline by offloading equities worth Rs 6,030.38 crore.

On Monday, Indian stock markets experienced a sharp downturn as benchmark indices Sensex and Nifty fell more than 3%, driven by surging crude oil prices and a grim outlook in global equities amid escalating conflict in the Middle East.

The Sensex shed 2,494.35 points, a 3.16% drop, closing at 76,424.55, while the Nifty lost 752.65 points, or 3.07%, finishing at 23,697.80. Among the companies impacted were State Bank of India, Mahindra & Mahindra, and Maruti.

The spike in Brent crude above $115 per barrel is delivering an economic shock, particularly to major oil importers like India. This downturn in the market was exacerbated by foreign investors unloading equities totaling Rs 6,030.38 crore, against domestic institutional investors' purchases of Rs 6,971.51 crore.

(With inputs from agencies.)