Indian Stock Market Falls Sharply on June 23 Due to Middle East Tensions
Indian Stock Market Update: Sensex & Nifty Fall on September 30
On June 23, the Sensex dropped over 900 points and Nifty 50 fell below 24,850 amid rising conflicts in the Middle East.
On Monday, June 23, the Indian stock market went down a lot. The Sensex, which is like a score for the biggest companies, dropped by more than 900 points. Another important score, the Nifty 50, went below 24,850. Other smaller company scores also went down.
The reason for this was a fight happening far away in the Middle East. The United States attacked some important places in Iran. This made the fight between Israel and Iran worse. Iran said it might stop ships from passing through an important waterway called the Strait of Hormuz. Many oil ships use this way to send oil to other countries.
Because of this, the price of oil, which is like fuel for cars and factories, went up to almost $80 for one barrel. When oil prices go up, things get more expensive and people worry about money.
Even though India’s own business is good, these fights far away are making people worried. So, the stock market went down because investors are being careful.
