Sensex, Nifty dive as Iran closes Strait of Hormuz, sparking oil surge
The BSE Sensex fell 0.78% to 76,963.35 and the Nifty 50 dropped 0.69% to 24,039.4 as Iran closed the Strait of Hormuz amid escalating tensions with US forces. This closure has led to a surge in crude oil prices, impacting all 16 vital sectors which traded lower. The situation follows missile and drone exchanges between US and Iranian forces, heightening market volatility.