Indian Stocks Flat as Iran War Worries Offset IT Gains
Indian stocks closed flat as Iran war worries offset IT gains. The rupee hit a record low while Brent crude rose above $110 amid rising Middle East tensions.
India equity benchmarks closed flat on Monday as escalating conflict in the Middle East offset a 2.4% rebound in IT stocks. The Nifty 50 rose 0.03% to 23,649.95, while the Sensex added 0.1% to 75,315.04. The indexes fell as much as 1.4% during the session, and fragile sentiment persists for energy-importing nations as regional instability drives crude prices above $110 per barrel.
### Geopolitical Tensions Weigh on Market Sentiment Security risks in the Middle East intensified after a drone strike caused a fire at a nuclear power plant in the United Arab Emirates. Saudi Arabia reported intercepting three drones, while United States President Donald Trump warned Iran to act quickly regarding stalled diplomatic efforts related to the U.S.-Israeli war. These events pushed Brent Crude Oil above $110 per barrel, pressuring the Indian rupee to a record low of 96.35 per dollar.
