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Middle East tensions rattle Indian markets: Sensex and Nifty tumble over 1 percent

Indian stock markets (Sensex and Nifty) fell by over 1% on Monday because of increased tensions in the Middle East. This happened after the US bombed three major nuclear sites in Iran (Fordow, Natanz, and Isfahan), getting involved in the conflict between Israel and Iran

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Equity benchmark indices Sensex and Nifty tumbled over 1 per cent in intra-day trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran.

The 30-share BSE Sensex tumbled 931.41 points, or 1.13 per cent, to 81,476.76. The 50-share NSE Nifty dropped 287.55 points, or 1.14 per cent, to 24,824.85.
The US bombed three major nuclear sites -- Fordow, Natanz, and Isfahan -- in Iran, bringing itself into the Israel-Iran conflict.

"Even though the US bombing of Iran's three nuclear facilities has worsened the crisis in West Asia, the impact on the market is likely to be limited. Even though the possibility of the closure of Hormuz Strait is a threat, it is important to understand that this has always been only a threat and the Strait has never been closed," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

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