Middle East War Jolts Markets: Sensex Plunges 1,600 Pts, Nifty Below 24,400 as Oil Soars

• Indian benchmark indices Sensex and Nifty opened sharply lower, with Sensex plunging 1,677 points (2.1%) to 78,561.8 and Nifty dropping 494 points to 24,371.6.
• The market crash is attributed to escalating conflict in the Middle East involving the US, Israel, and Iran, alongside surging crude oil prices.
• Brent crude trades near $81-82 per barrel, raising fears of supply disruptions through the critical Strait of Hormuz.
• Analysts warn of significant macroeconomic risks for India, including inflation, a wider trade deficit, and currency weakening, given its 85% oil import dependency.
• Widespread selling pressure hit sectors like Infra, Auto, and Consumer Durables; Larsen & Toubro, HDFC Bank, Bajaj Finance were among top losers.