Share Market Live: Global Markets Rattle as US-Iran Conflict Escalates, Crude Oil Prices See Surge

Share Market Live: The United States has launched airstrikes on three Iranian nuclear facilities, prompting Iran’s parliament to call for the closure of the Strait of Hormuz, a crucial conduit for world oil shipping. This incident has raised fears about global crude oil supplies, prompting WTI crude prices to skyrocket, approaching $75 per barrel. In response to escalating geopolitical concerns, most Asian markets have gone negative, causing a gap-down opening in Indian markets. Key indices, including the Nifty and Bank Nifty, have plummeted below 25,000 and 56,000 points, respectively.

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The Nifty IT Index has fallen by almost 1.5%, with big IT companies like as Infosys, TCS, and HCL Technologies reporting large losses. Meanwhile, Accenture reported its May quarter results but did not provide a clear perspective due to current global uncertainty. The surge in crude oil prices has major consequences for India’s economy, including inflationary pressures and trade balance worries. Tune in to Aaj Ka Bazaar for a full study of these market moves and their impact on India, hosted by Profitedge Academy Partner Yogesh Nanda and Parag Thakkar, Head of Fund Management at Fort Capital.