India's stock market plummeted at the opening bell today as crude oil surged above $100 a barrel following the collapse of US-Iran peace talks.
The 30-share S&P BSE Sensex fell 2.08%, or 1,613.09 points, to 75,937.20 points, while the NSE Nifty 50 shed 1.92% to 23,589 points.
The Nifty Bank index was down 2.27% and Nifty Midcap 100 2.02%.
US President Donald Trump's announcement of a naval blockade of the Strait of Hormuz sent oil prices soaring, with Brent crude jumping about 7% to $102 per barrel.
Experts warn of dramatic developments on the geopolitical front and advise investors to wait and watch.
Foreign portfolio investors have sold Indian stocks worth $5.15 billion so far in April, while domestic investors have seen inflows into equity mutual funds rise to an eight-month high of $4.4 billion in March.
