Sensex falls over 600 points: Key factors behind today's decline

Sensex falls over 600 points: Key factors behind today's decline

The Indian stock market witnessed a downturn today, with the benchmark Sensex falling over 600 points to an intraday low of 77,001.

The Nifty 50 also witnessed a dip, falling below the 24,050 mark.

The decline was largely attributed to geopolitical tensions in the Middle East and rising crude oil prices.

US-Iran conflict intensifies, impacting global markets

The US-Iran conflict has escalated, with reports of the US launching its third consecutive night of strikes on Iran.

President Donald Trump has also announced a new blockade on Iranian trade in the Strait of Hormuz.

Meanwhile, Brent crude oil prices have jumped to nearly $85 per barrel, further straining India's fiscal position as it heavily relies on crude oil imports.