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West Asia war wipes out lakhs of crores in investor wealth; Oil at $119

📅 March 10, 2026 12:00 AM ⏱️ 1 min read 🕐 Scraped: March 09, 2026

Summary: Indian equity markets have experienced a significant downturn as the West Asia conflict enters its tenth day. The Sensex crashed 1,353 points to 77,566, while the Nifty fell 422 points to the 24,000 level, marking a 4.58 percent decline since the hostilities began. This volatility has resulted in the loss of lakhs of crores in investor wealth. Brent crude prices surged to $119.50 per barrel following a 28 percent rally, driven by disruptions in the Strait of Hormuz. External Affairs Minister S. Jaishankar emphasized the region's importance for India's energy security and the safety of 10 million Indian expatriates. Global energy markets report a 26 percent jump in Russian Ural crude as China increases stockpiles. India maintains 74 days of oil reserves, while Japan utilizes its 300-day supply. Market uncertainty is further compounded by shadow market activities involving Russian, Venezuelan, and Iranian crude. Additionally, regional tensions have prompted some Dubai residents to relocate following reported drone strikes near Palm Jumeirah.

Indian equity markets have experienced a significant downturn as the West Asia conflict enters its tenth day.

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🌍 India Today

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March 10, 2026 at 12:00 AM

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