Indian shares succumbed to heavy selling pressure on Thursday as fears of a full-fledged war between Iran and Israel dented investors’ appetite for riskier assets.
The escalating tensions fueled a significant rise in crude oil prices, heightening fear among market participants.
Brent crude contract jumped above $75 a barrel today, rising for a fifth straight session on concerns that a wider Middle East conflict could disrupt global energy shipments.
Also, new SEBI regulations to curtail retail participation in speculative index derivatives have raised concerns about reduced trading volumes in the broader market.
The benchmark 30-share BSE Sensex plummeted 1,769.19 points, or 2.10 percent, to 82,497.10 while the broader NSE Nifty index closed at 25,250.10, down 546.80 points, or 2.12 percent, from its previous close.
Among the prominent decliners, Reliance Industries, Axis Bank, Larsen & Toubro, Shriram Finance and BPCL slumped 4-5 percent in the Nifty pack.
Sensex, Nifty Plunge Over 2 Percent On Middle East Concerns
2024-10-03 11:03:51
