Indian stocks down 1% as U.S. says Israel may attack Iran
Indian stocks dipped 1% on Thursday (June 12, 2025) after United States withdrew diplomats from the West Asian nations saying that Iran was 'not safe' and may be attacked by Israel.
Benchmark Nifty 50 and Sensex fell 1% to 24,888,20 points and 81692 points on Thursday. All sectoral indices dipped with Financial services indices falling nearly 2%. With Thursday's slump Indian markets broke a consecutive six day positive returns. 'The downturn was attributed to intensified profit-booking and risk-off sentiment, as escalating geopolitical tensions in the Middle East overshadowed positive macro cues such as softening inflation and encouraging trade data,' said analysts at Bajaj Broking.
The slump in equity markets also led to a nine paise depreciation of rupee settled down to ₹85.09 a dollar. 'The Indian rupee becomes the worst-performing Asian currency, battered by risk-averse sentiments and a surge in crude oil prices driven by geopolitical concerns. Weak domestic equities have further weighed on the local currency,' said Dilip Parmar Senior Analyst at HDFC Securities.
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