Stock Market
US-Iran tensions explode, oil prices surge—yet Sensex rallies 436 points in a surprise move
Mumbai/IBNS: Indian equity markets extended their gains on Wednesday, building on the momentum from the previous session, with both the BSE Sensex and NSE Nifty 50 trading in positive territory, according to media reports.
The Sensex rose 436 points, or 0.6 percent, to 74,354, while the Nifty gained 0.4 percent to reach 23,337.80.
Meanwhile, Brent crude oil prices climbed 0.8 percent to $92.15 per barrel amid escalating geopolitical tensions in the Middle East following a fresh U.S. military strike on Iran after the reported downing of an American helicopter.
Asian markets traded lower on Wednesday as rising oil prices weighed on investor sentiment.
Iran's Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for a missile strike on a U.S. airbase in Al-Azraq, Jordan, stating that four strategic targets were hit, including shelters housing F-35 fighter jets and a command-and-control centre.
The U.S. Central Command (CENTCOM) confirmed that American forces carried out self-defence strikes against Iranian military assets on June 9. The operation was conducted on the orders of the Commander-in-Chief following reports that a U.S. Army Apache helicopter had been downed.
According to CENTCOM, U.S. Air Force and Navy fighter jets launched precision strikes targeting Iranian air-defence systems, ground-control stations, and surveillance radar installations near the Strait of Hormuz.
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