Indian Stock Markets Tumble on Geopolitical Uncertainty, Oil Price Surge
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Insights by Echo AI
Indian stock markets witnessed a significant downturn on Monday, September 28, with the Sensex plunging over 1,100 points and the Nifty dropping below 22,900. The decline was driven by renewed geopolitical uncertainty over the Strait of Hormuz, which pushed crude oil prices higher, and heavy foreign institutional selling. Markets opened lower and extended their losing streak throughout the day, with all sectoral indices trading in the red. Banking, financials, and realty were among the top losers.
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