Indian Markets Decline Amid US-Iran-Israel Tensions and Rising Oil Prices

Indian equity markets faced sharp declines amid escalating US-Iran-Israel tensions and rising crude oil prices, with the Nifty 50 falling over 1.2 percent and breaching key support levels near 24,600 and 24,400. Market volatility surged, reflected in a spike in India VIX. Sectoral impacts varied: oil exploration firms gained, while oil marketing, aviation, realty, metal, and PSU banks saw losses. IT stocks outperformed due to a weaker rupee. Analysts advise caution, selective buying, and highlight risks to companies with West Asia exposure. Key stocks in focus include Reliance, Adani Energy, IndiGo, and Tejas Networks.