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Sensex plunges 1,836 pts; Nifty down to 22,512 as war, crude oil prices continue to hit sentiments

Mumbai, Mar 23 (PTI) Equity benchmark indices Sensex and Nifty plummeted on Monday, in tandem with an extremely weak trend in global markets as the war in the Middle East showed no signs of a slowdown. Rising crude oil prices due to the war, which has entered its fourth week, relentless foreign fund outflows and weakness in the rupee have also made investors risk-averse. The 30-share BSE Sensex dived 1,836.57 points, or 2.46 per cent, to settle at 72,696.39. During the day, it plunged 1,974.52 points, or 2.64 per cent, to 72,558.44. The 50-share NSE Nifty tanked 601.85 points, or

Rupee slumps 50 paise to settle at fresh record low of 94.03 against US dollar

Mumbai, Mar 23 (PTI) The rupee breached the 94/dollar barrier for the first time, slumping 50 paise to a new record closing low of 94.03 (provisional) against the greenback on Monday, as spiralling global crude prices and unabated foreign fund outflows unnerved investors. A strengthening US dollar and a steep decline in the domestic equity markets further weakened the local unit, forex traders said. At the interbank foreign exchange, the local unit opened at 93.84 and kept losing ground throughout the day, before breaching the 94-mark against the US dollar for the first time to settle at 94.03 (provisional), down

Trump postpones military strikes for five ​days on Iranian power plants

US President Donald Trump

WASHINGTON, March 23 (Reuters) – President Donald Trump backed down on targeting Iran’s power network on Monday, saying the U.S. and ​Iran have held constructive talks and that he would ‌postpone any strikes on power plants and energy infrastructure. Trump’s statement came after Iran threatened to attack Israel’s power plants and those supplying U.S. bases ​across the Gulf region if the U.S. targets Iran’s ​power network. Conversations with Iran will continue throughout the week, ⁠Trump said in a social media post. The dollar plunged and ​stocks surged following Trump’s post. The United States and Iran “have had, over ​the last

A web of sensors: How the US spots missiles and drones from Iran

Oxford (US), Mar 23 (The Conversation) The global price of oil continues to skyrocket as Iran’s missiles and drones hit vital infrastructure in Arab Gulf states. Billion-dollar American radar systems have also been targeted and destroyed across the Middle East by Iran, seemingly degrading U.S. defenses. U.S. military presence near Iran includes dozens of locations and tens of thousands of troops in harm’s way. This raises the question: If a missile is launched from Iran toward a U.S. military base in the region, how do service members know in time to stay safe? The United States and its allies have

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