Equities slump after Iran strike on US troops spooks Asian markets
Updated:5 years, 9 months ago
New Delhi, Jan 08 (ANI): Equity indices extended losses on Wednesday afternoon after Iran fired missiles at US forces in Iraq overnight, pushing oil prices higher as investors feared a wider conflict in the Middle East. The attacks on Ain Al-Asad airbase and another at Erbil came hours after the funeral of top military commander Qassem Soleimani whose killing in a US drone strike led to sharp escalations in a developing conflict across the region. The BSE S&P Sensex was down by 221 points to 40,648 while the Nifty 50 edged lower by 78 points at 11,975. All sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dipped by 1.8 per cent, metal by 1.6 per cent, realty by 1.1 per cent and auto by 1 per cent. Meanwhile, Asian financial markets were roiled with stocks sliding as investors feared a wider conflict in the Middle East could push up oil prices and dent US corporate earnings due to rising energy costs.
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