look news india
Ahmedabad: This proved to be the worst week in terms of performance of Indian stock market indices in the last two years amid Israel-Iran tension. As conflict in West Asia escalates and crude oil prices rise, global investors are selling risky assets, while China's government stimulus package is boosting the market, driving foreign investors to China. Have been.
Sensex and Nifty ended the week down around 4.5 per cent, the biggest one-week fall among the benchmark indices since June 2022. This week the market capitalization totaled Rs. There has been a decrease of Rs 17 lakh crore.
India VIX, an index measuring market volatility, rose 7.3 percent to 14.1. In the same week, Hong Kong's Hang Seng closed with a gain of 10.2 percent and China's Shanghai Composite closed with a gain of 8.1 percent.
Investors are worried about crude oil prices due to increasing tensions between Israel and Iran. Crude oil accounts for a major share in India's total import expenditure. If Israel attacks Iran's oil plants, 1.5 million barrels less oil will reach the market per day.
Investors fear that if this happens, Iran may cut off access to the Strait of Hormuz. About one-third of the world's oil passes through this route. With rising tensions, crude oil has surged 11.6 percent in the last six days to close to $80 a barrel.