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Stock Markets Sink Over 2% as Trump Declares Iran Deal 'Over'
Indian benchmark equity indices witnessed a sharp sell-off on Wednesday, with the Sensex and Nifty falling more than 2 per cent in late trade after renewed geopolitical tensions in the Middle East sent crude oil prices soaring.
Investor sentiment weakened after US President Donald Trump declared that the interim agreement with Iran was effectively "over," raising fears of a fresh escalation in the region and its impact on global energy supplies.
Investor sentiment weakened after US President Donald Trump declared that the interim agreement with Iran was effectively "over," raising fears of a fresh escalation in the region and its impact on global energy supplies.
The BSE Sensex plunged 1,722.99 points, or 2.20 per cent, to an intraday low of 76,457.73, while the NSE Nifty 50 dropped 530.05 points, or 2.17 per cent, to 23,868.65.
Selling pressure was widespread, with all 30 Sensex constituents trading in negative territory. Among the biggest losers were InterGlobe Aviation (IndiGo), Maruti Suzuki, Hindustan Unilever, UltraTech Cement, Bajaj Finance, and Mahindra & Mahindra.
Selling pressure was widespread, with all 30 Sensex constituents trading in negative territory. Among the biggest losers were InterGlobe Aviation (IndiGo), Maruti Suzuki, Hindustan Unilever, UltraTech Cement, Bajaj Finance, and Mahindra & Mahindra.
The sharp decline came as Brent crude, the international oil benchmark, surged 6.19 per cent to USD 78.75 per barrel, driven by concerns over potential disruptions to oil supplies following the latest developments in the Gulf.
Market participants reacted after Trump stated that the interim understanding with Iran had effectively ended, although he indicated that diplomatic talks could continue. His remarks heightened concerns that the conflict in the Middle East could intensify further, pushing oil prices sharply higher and weighing on global equity markets.
Market participants reacted after Trump stated that the interim understanding with Iran had effectively ended, although he indicated that diplomatic talks could continue. His remarks heightened concerns that the conflict in the Middle East could intensify further, pushing oil prices sharply higher and weighing on global equity markets.
Asian markets also witnessed mixed performances. South Korea's Kospi dropped 5.35 per cent, Japan's Nikkei 225 declined 2.11 per cent, and China's Shanghai Composite slipped 0.49 per cent. In contrast, Hong Kong's Hang Seng index gained 2.99 per cent.
Wall Street had ended lower in the previous session, reflecting growing investor caution amid geopolitical uncertainty.
Despite the market weakness, Foreign Institutional Investors (FIIs) remained net buyers on Tuesday, purchasing equities worth Rs.393.19 crore, according to exchange data.
Despite the market weakness, Foreign Institutional Investors (FIIs) remained net buyers on Tuesday, purchasing equities worth Rs.393.19 crore, according to exchange data.
On Tuesday, both benchmark indices had already ended slightly lower after late-session selling. The Sensex had declined 104.35 points to settle at 78,180.72, while the Nifty slipped 31.65 points to close at 24,398.70. (Inputs from PTI)
