Markets extend losses amid geopolitical tensions; PSU bank stocks bleed

Markets extend losses amid geopolitical tensions; PSU bank stocks bleed

Indian benchmark indices extended losses after tensions between the US and Iran escalated overnight. Iran fired rockets at an Iraqi airbase housing US forces, which sparked fears of a "hot" conflict between the two nations. 

The Sensex is currently down 269 points at 40,599, while the Nifty is trading below 12,000.

Among sectors, Nifty Media, PSU Bank, and Realty are the top laggards. All sectors are trading in the negative currently.
42 shares are trading lower vs. 8 shares in the positive on the Nifty50.

The Indian rupee is also trading lower by 17 paise at 72 per dollar versus previous close 71.83.

India Vix has spiked 10% and is at 16.15. 

Meanwhile, gold and oil are trading higher. Gold soared above $1600 on the international market amid high risk aversion. In India, the MCX Gold Feb contract hit a record high of Rs42,278/10g.

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