India’s benchmark indices, the Nifty 50 and the Sensex, slumped on Monday following the escalation of geopolitical tensions in West Asia over the weekend. The Nifty 50 fell 2.06% to 24,659.25, the sharpest intraday drop since February 1. Meanwhile, the BSE Sensex dropped 3.38% to 78,543.73, the steepest fall in nearly a year.
US Iran War Live Updates: Markets Slide on West Asia War Fears
Broad-based sell-off hits Dalal Street as crude surges above $82, Strait of Hormuz shuts, and rupee weakens to one-month low
Over the weekend, the US and Israel launched a coordinated attack against Iran, destabilising the region of West Asia. Operation Epic Fury, the extensive US military operation against Iran, has claimed the life of Supreme Leader Ayatollah Ali Khamenei early Sunday. After weeks of US military build-up and escalating tensions over Iran’s nuclear program, the operation targeted not only Khamenei but also members of his family. Iran has shut down the Strait of Hormuz, bringing global markets to the brink amid heightened geopolitical tensions.
LIVE UPDATES
US Iran War Live Updates: Nifty, Sensex Plunge as US–Israel Strike on Iran Sparks Oil Shock, Risk-Off Rout
Advertisement
Oil prices surged over 7% to nearly $82.40 per barrel, their highest level in months. Safe-haven asset gold climbed 2%, while the Indian rupee slumped to ₹91.23 per dollar, its lowest level in a month.