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Sensex, Nifty Tumble Amid Rising Geopolitical Tensions
(RTTNews) - Indian shares tumbled on Friday to extend steep losses from the previous session as tariff uncertainties and heightened geopolitical tensions dented investors' appetite for risk.
The specifics of the latest U.S-China framework agreement and details on how it will be implemented remain unclear and it appears that there may still be significant disagreements and some details are yet to be worked out.
Brent crude futures jumped nearly 9 percent after Israel launched an airstrike on Iran and declared a special state of emergency, raising fears of oil supply disruption.
Israel reportedly hit sites like Natanz, Fordow, and Isfahan to curb Iran's uranium enrichment and missile capabilities.
Iran's Supreme Leader has confirmed that multiple commanders and scientists have been killed in the attack and also vowed to retaliate to the attacks.
The benchmark S&P/BSE Sensex slumped 920 points, or 1.1 percent, to 80,773 in early trade while the broader NSE Nifty index was down 289 points, or 1.2 percent, at 24,599.
Selling was seen across the board, with Tata Motors, Reliance Industries, SBI, UltraTech Cement, Titan Company, Power Grid Corp, Kotak Mahindra Bank and Adani Ports all falling around 2 percent.
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