Sensex, Nifty dip as Iran-Israel conflict triggers oil and inflation fears

The S&P BSE Sensex lost 1769.19 points to end at 82,497.10, while the Nifty50 closed 546.80 points lower to close at 25,250.10. 

Benchmark stock market indices closed in red after witnessing a crash spurred by the escalating Middle East tension between Iran and Israel.

The S&P BSE Sensex lost 1769.19 points to end at 82,497.10, while the Nifty50 closed 546.80 points lower to close at 25,250.10.

Vinod Nair, Head of Research, Geojit Financial Services sai that the domestic market took a sharp downturn following Iran’s launch of ballistic missiles at Israel, sparking fears of retaliation and escalation in war.

"This could potentially drive-up oil prices and lead to inflationary pressures. Additionally, new SEBI regulations for the F&O segment have raised concerns about reduced trading volumes in the broader market. Lastly, with attractive valuations in China, FIIs have redirected their funds, adding pressure on Indian stocks," he added.