The benchmark indices — NIFTY 50 and BSE SENSEX — traded sharply lower amid growing concerns over the economic fallout of the ongoing US-Iran stand-off.
As of 10:20 am, the Nifty was down more than 1.28%, falling nearly 300 points to 23,867.05. The Sensex also declined steeply, slipping around 1,050 points or 1.38% to 76,258.59.
The Indian rupee also came under pressure and weakened significantly against the US dollar. The currency fell as much as 43 paise in early trade to touch 94.91.
