Equities sink as West Asia crisis spooks investors
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Mumbai: Indian equity markets tumbled sharply on Wednesday as surging crude oil prices and escalating tensions in West Asia rattled investor sentiment. The BSE Sensex plunged 1,342 points, or 1.72%, to close at 76,863.71, while the NSE Nifty fell 394.75 points, or 1.63%, to settle at 23,866.85.
Investors’ wealth eroded by Rs 5.14 lakh crore on Wednesday as stock markets fell after a day’s breather due to a surge in global crude oil prices amid growing tensions in West Asia.
Market sentiment remained fragile as fears of crude supply disruptions intensified after Brent crude jumped nearly 6% to around $93 per barrel. Auto stocks led sectoral losses amid rising input costs and supply chain concerns.
Analysts said the sharp fall also reflected profit-booking after the previous session’s rally, with investors staying cautious amid global uncertainty and rising inflation risks.
