Indian stock markets are experiencing a significant wealth hemorrhage, with investors losing Rs 19 lakh crore in market capitalization due to escalating US-Iran tensions and surging crude oil prices. The broad-based selloff has led to a 3,330-point plunge in the Sensex, raising concerns about a potential bear market.
Oil prices surge amid Middle East conflict: How Indian oil stocks performed last week?
Oil prices saw a massive rally last week amid the raging war in the Middle East, as the Strait of Hormuz effectively closed for traffic,