Stock Market
Sensex crashes 400 points at open before recovery as global tensions escalate
Mumbai/IBNS: The Indian stock market declined on Tuesday amid soaring crude oil prices and growing uncertainty over the conflict in West Asia, media reports said.
Sensex, Nifty Open Lower
The BSE Sensex plunged nearly 400 points at the opening bell, while the NSE Nifty 50 slipped almost 0.7 percent to 23,229 in the first hour of trading.
However, the benchmark Sensex later recovered most of its losses and briefly entered positive territory, while the Nifty continued to trade in the red.
Oil Prices Surge
Investor sentiment remained under pressure after Brent crude for August delivery jumped 4.2 percent in the previous session to reach $95 per barrel.
Rising oil prices have raised concerns over inflationary pressures and their potential impact on global economic growth.
Asian Markets Under Pressure
Major Asian markets also traded lower on Tuesday as investors remained cautious over escalating tensions in the Middle East and persistent concerns surrounding the Strait of Hormuz, a key global oil shipping route.
The uncertainty in the region has heightened fears of potential disruptions to crude supplies, contributing to volatility across financial markets.
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