Indian Stock Market Declines Amid Rising Oil Prices and Geopolitical Tensions
Why is stock market falling today? Sensex plunges 800 pts, Nifty breaks 24,200. Key reasons behind the selloff
The Economic Times
Image: The Economic Times
Indian stock indices, Sensex and Nifty, fell nearly 1% due to rising oil prices, geopolitical tensions, and a weakening rupee. Sensex dropped over 823 points to 77,693, while Nifty fell 218 points to 24,159, erasing more than ₹2 lakh crore from market capitalisation.
- 01Sensex dropped over 823 points to 77,693 and Nifty fell 218 points to 24,159.
- 02Rising oil prices, now above $100 per barrel, are a major factor in the market decline.
- 03Geopolitical tensions, particularly between the US and Iran, are contributing to market uncertainty.
- 04The total market capitalisation fell to ₹467 lakh crore.
- 05Nifty Pharma was one of the few sectors to gain, rising over 0.5%.
Advertisement
In-Article Ad
Indian stock markets faced significant losses as the benchmark indices, Sensex and Nifty, fell nearly 1% each amid rising oil prices and escalating geopolitical tensions. Sensex dropped 823 points to 77,693, while Nifty fell 218 points to 24,159 during early trading on Thursday. This decline wiped off more than ₹2 lakh crore from the total market capitalisation, which now stands at ₹467 lakh crore. The India VIX, a measure of market volatility, increased by 3% to 18.84, indicating heightened investor anxiety. Key factors behind the sell-off include the resurgence of oil prices above $100 per barrel due to concerns over supply disruptions following attacks near the Strait of Hormuz, and ongoing tensions between the US and Iran. Analysts warn that if oil prices remain high, India's economic growth and corporate earnings could be adversely affected.
Advertisement
In-Article Ad
The decline in the stock market could affect investors' portfolios and consumer confidence, potentially leading to reduced spending and investment.
Advertisement
In-Article Ad
Reader Poll
Do you think the Indian stock market will recover in the coming weeks?
Connecting to poll...
Read the original article
Visit the source for the complete story.