Benchmark Indian equity indices registered steep declines on Tuesday, mirroring a broader sell-off across international financial markets as surging crude oil prices and escalating military strikes in the Persian Gulf triggered risk-off sentiment among institutional investors.
The 30-share BSE Sensex dropped by over eight hundred and twenty points to settle at eighty-one thousand three hundred and forty-two, while the broader NSE Nifty 50 slipped below the twenty-four thousand nine hundred mark, ending down two hundred and forty-five points. The sharp market retreat was spearheaded by heavyweight banking conglomerates, automotive manufacturers, and oil-marketing firms, whose profit margins face immediate pressure from international crude spikes near one hundred dollars per barrel.
Foreign institutional investors offloaded domestic equities worth over three thousand four hundred crore rupees on a net basis, seeking safety in sovereign treasury debt and bullion. The Indian rupee also came under depreciatory pressure against the greenback, depreciating eighteen paise to close at eighty-four rupees and twelve paise per dollar in interbank foreign exchange markets.
Domestic market analysts noted that sustained geopolitical friction in the Middle East poses dual headwinds of imported inflation and elevated logistics expenditures for import-reliant sectors. Traders advised portfolio caution as derivative volatility indicators surged to three-month highs ahead of upcoming macroeconomic inflation data.
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Sources:
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