Middle East Conflict Fuels Global Market Turmoil; Oil Surge, FII Selloff Hit Indian Equities

• Middle East conflict escalated, causing a 12% oil price surge and global market shock, with no clear end in sight.
• Indian markets saw Nifty50 fall 2.89%, FIIs offloaded Rs 21,831.19 crore for the third consecutive week, and the rupee hit a record low of 91.74 against the US dollar.
• PSU Banks, Realty, and Media sectors bore the brunt of the selloff, while the Defence index bucked the trend with a nearly 5% gain.
• Global markets closed in the red, with the CBOE Volatility Index reaching its highest level since April 2022, reflecting widespread investor anxiety.
• Technical indicators like RMI, EMA, FII net futures position, and advance-decline ratio signal sustained bearish pressure and further downside potential for markets.