Market close: Nifty 50, Sensex fall on Israel-Hamas war escalation jitters; investors lose over ₹2 lakh crore in a day
Nifty 50 today: The domestic market witnessed significant selling pressure on Wednesday, October 18, which made the benchmarks the Sensex and the Nifty 50 conclude the day in negative territory. This downturn could be attributed to growing concerns about an escalation of the Israel-Hamas conflict. Concerns are growing that the ongoing Israel-Hamas conflict may escalate into a larger regional crisis, potentially involving other nations.
Such a development could lead to an increase in crude oil prices due to disruptions in production and supply. This, in turn, might impede efforts to curb inflation and even have ramifications for global economic growth. "Whether this conflict remains limited to a confrontation between Hamas and Israel or escalates into a broader regional conflict involving Iran's proxy armed groups, notably Hezbollah, will have significant implications," Reuters quoted Hamza Meddeb, director of the political economy programme at the Malcolm H.
Kerr Carnegie Middle East Center in Beirut, saying so. Apart from the Israel-Hamas war, investors also keep an eye on Q2 earnings and macroeconomic indicators. Nifty 50 today opened at 19,820.45 against the previous close of 19,811.50 and touched its intraday high and low of 19,840.95 and 19,659.95 respectively.
The index closed with a loss of 140 points, or 0.71 per cent at 19,671.10. The Sensex opened at 66,473.74 against the previous close of 66,428.09 and touched its intraday high and low of 66,475.27 and 65,842.10 respectively. It ended the day at 65,877.02, down 551 points, or 0.83 per cent.
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