Volatility persisted on Dalal Street as Indian benchmark indices, Sensex and Nifty 50, closed the session significantly off the day’s high, even though they eked out minor gains on Wednesday, 9 June.
Asian peers declined as geopolitical tensions flared up between the US and Iran, resulting in one of the biggest outbreaks of hostilities since the two countries agreed to a ceasefire in April. Iran’s Revolutionary Guards said they had carried out missile and drone attacks on US military bases in Jordan, Kuwait and Bahrain in retaliation for American strikes on Iranian targets around the Strait of Hormuz.
This also drove crude oil prices higher by 1%, which does not bode well for India’s import-oriented economy.
Against this backdrop, BSE barometer Sensex ended the day 625 points from the day’s high at 73,983, up 64 points or 0.09%.
