Sensex sinks as Middle East tensions spike, Rs 13.7 lakh cr wiped out
Sensex sinks as Middle East tensions spike, Rs 13.7 lakh cr wiped out
Indian benchmarks slump as Middle East tensions escalate, erasing investor wealth and rattling markets across sectors.
Indian benchmark indices finished sharply lower on Monday as tensions in the Middle East intensified for the fourth week running, lifting oil prices and keeping risk appetite at bay. The BSE Sensex slid 1,836.57 points, or 2.46 percent, to end at 72,696.39, while the Nifty50 tumbled more than 601 points, or 2.60 percent, to 22,512.65 for the day. Broader indices fell in tandem, with the fear gauge, India VIX, spiking to around the 27 level as liquidity tightened and global cues remained fragile. Investor wealth took a brutal hit, with total market capitalization of BSE-listed firms retreating to Rs 4,15,05,411.13 lakh crore from Rs 4,28,76,298.38 lakh crore on Friday, a drop of about Rs 13.7 lakh crore in notional value. Domestic markets mirrored weakness seen across Asian peers amid escalating tensions and concerns over potential disruptions to global energy supplies.
