New Delhi, March 11 -- The Nifty 50 has fallen 3.67% between 27 February and 9 March. Foreign institutional investors are selling. Brent crude has climbed nearly 13%-from $72.48 to $84.12 a barrel as of 8:41am IST on 11 March. The rupee has weakened.

For retail investors who entered the market during the strong rally of recent years, portfolio returns are suddenly starting to look volatile.

But what should investors actually do when geopolitical conflicts such as the one unfolding in West Asia begin to ripple through financial markets?

For Indian markets, crude oil is one of the most critical macro variables.

India imports nearly 90% of its crude oil requirement, making it one of the most exposed large economies to global oil price sw...