Israel-Hamas war: Nifty, Sensex slip about 1% each in early trade; investors lose nearly ₹4 lakh crore

Israel-Hamas war: Indian equity benchmarks Nifty and Sensex each dropped about 1% during early trade on Monday. The overall market capitalisation of the firms in the BSE also dropped to nearly ₹316 lakh crore from about ₹320 lakh crore in the previous session. The investors have now lost about ₹4 lakh crore.

Nifty and Sensex

The Nifty50 opened at 19,539.45 against the previous close of 19,653.50 and fell 0.90% to the day's low of 19,480.50. Meanwhile, the Sensex opened at 65,560.07 against the previous close of 65,995.63 and fell 0.85% to the day's low of 65,434.61 in Monday's trade so far.

Although after the initial fall markets recovered marginally, the volatility is expected to continue.

Also Read: Israel-Hamas war spikes Oil and Gold prices: Impact on India

Investors spooked

The Israel-Hamas war has spread a wave of volatility across the market. The war though is still confined to the parts of Israel and Palestine, may have a ripple effect across the globe. Crude oil prices surged over 4% on concerns over supply disruption after a war between Israel and Palestine's Hamas erupted. Meanwhile, gold prices have also risen.