Geopolitical tensions between Israel and Palestine triggered a sharp decline in the domestic equity market on Monday, with the BSE Sensex plummeting over 500 points and the NSE Nifty50 falling more than 150 points. Investors, concerned about potential repercussions on global economies, offloaded equity assets amidst fears of escalating oil prices. The conflict’s proximity to major oil-producing nations raised apprehensions of a surge in international crude oil prices, contributing to inflation concerns. Investors, adopting a risk-off approach, sought refuge in traditional safe-haven assets like gold and the dollar. The day witnessed nearly Rs 4 lakh crore in losses as market capitalization decreased to Rs 316 lakh crore. Foreign Institutional Investors (FIIs) also withdrew equities worth Rs 998 crore, reflecting a cautious market sentiment.
Equity Markets Tumble as Israel-Palestine Conflict Fuels Geopolitical Uncertainty
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2023/10/10093028/sensex_1-6.jpg)