Market's fear index surges 17% as Iran-Israel intensify missile attacks

Volatility and fear returned to the Indian stock market after three sessions on Thursday after Iran and Israel intensified missile attacks on energy sites, sending brent crude oil prices to $112 per barrel. Tensions in West Asia also intensified following attacks on Iran's South Pars gas field.

The attacks sent bulls running for cover in global markets, which accounted for more LNG shortage post attack on Qatar and Saudi Energy sites by Iran. 

In India, Sensex tumbled as much as 2,018.61 points to hit a low of 74,685.52, while the NSE Nifty dropped 596.85 points to 23,180.95.

Subsequently, India VIX, the volatility index, of the Indian stock market surged 17.05% to 21.93 against 18.32 on Wednesday. 

The global market rout amid surging crude oil prices signalled deepening of the energy crisis on Thursday. 

in investor wealth during the opening trade. The BSE's total market capitalisation (m-cap) dropped by Rs 8.09 lakh crore to Rs 430.90 lakh crore, compared with Rs 439.01 lakh crore in the previous session.

Market cap of BSE-listed firms fell by over Rs 8 lakh crore to Rs 430.90 lakh crore today against the market cap of Rs 439,01 lakh crore on March 18. 

On a year-to-date basis, the volatility index has surged 127%, as Trump tariffs, US-Iran War and the global economic slowdown took a toll on Indian equity market. 

During the same period, rising market volatility reflected in the benchmark indices with Sensex plunging 12% and Nifty by 11.07%.