Sensex Closes 440 Points Lower As Oil Tops $90 Amid US-Iran War
The Indian equity market faced significant selling pressure as the Sensex dropped 440 points following a spike in global crude prices. Investors reacted to geopolitical tensions as Brent crude eclipsed the $90 per barrel mark amid escalating conflict between the US and Iran.
The Indian benchmark indices ended the trading session in the red on Friday, with the Sensex closing approximately 440 points lower. This market downturn was primarily driven by a sharp 3% surge in international oil prices, which saw Brent crude surpass the $90 per barrel threshold for the first time in several months.
Geopolitical uncertainty weighed heavily on investor sentiment across global markets as tensions between the United States and Iran intensified. The potential for supply chain disruptions in the Middle East has led to heightened volatility in energy-sensitive sectors, impacting emerging markets like India that rely heavily on oil imports.
Domestic sectoral indices reflected the cautious mood, with banking and financial stocks leading the decline. Analysts suggest that the continued rise in crude costs could further pressure fiscal deficits and inflation targets if the geopolitical situation does not stabilize in the near term. Source: Nifty Highlights.
