Indian markets plunged as geopolitical tensions grip investor sentiment.

Indian markets plunged as geopolitical tensions grip investor sentiment. The rupee crashed to a record 94.81 per dollar, breaching the 94 mark for the first time as crude oil prices surged on Gulf war concerns. The NSE Nifty fell 2.1% while the BSE Sensex dropped 2.3%, marking the fifth consecutive week of declines since August. The Volatility Index spiked 8.7% to a four-year high of 26.8, signaling heightened risk expectations. Brent crude climbed 1.73% to $109.88 per barrel as the Strait of Hormuz closure threatens supply chains. Experts warn the rupee could weaken further toward 96-97 per dollar if the conflict persists and oil remains elevated near $115. State-run banks intervened with muted dollar sales, but traders expect limited central bank support without resolution to regional tensions.