Stock Market Plunge Continues as Escalating US-Iran Tensions Weigh on Global Shares

Indian Stock Market Update

Key Statistics:

• BSE Sensex: closed at 80,015.90, up 899.71 points (1.14%) from the previous session
• Nifty 50: closed at 24,765.90, up 285.40 points (1.17%) from the previous session

Market Analysis

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The Indian benchmark equity indices, the Sensex and Nifty 50, started the trading session on a weaker note, mirroring subdued global market sentiment due to the ongoing US-Israel-Iran conflict. The conflict has dampened investors' appetite for risk, causing a decline in oil prices and heightening near-term inflation worries.

Global Market Update

Asian equities declined on Friday, with the MSCI Asia Pacific Index slipping 1.1%, extending its losses to about 7.5% since the conflict began. The prolonged conflict in the Middle East and fresh Iranian strikes triggered a broad risk-off mood among investors.

Oil Market Update

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Oil prices reacted sharply to the geopolitical escalation, with Brent crude surging nearly 5% on Thursday to hit a 20-month high of $86.28 per barrel. As of 8:10 a.m. IST, Brent crude was trading at $84.2.

Regional Market Update

Regional markets declined on Friday, with Japan's Topix dropping 0.8%, Australia's S&P/ASX 200 falling 1.3%, and Hong Kong's Hang Seng Index edging up 0.1%. China's Shanghai Composite rose 0.6%.