Bhubaneswar, March 20 -- Rising global uncertainty amid a major conflict in the Middle East has begun to shake financial markets worldwide, with crude oil prices surging sharply and volatility increasing across asset classes. The ripple effects were strongly felt in India, where investors lost nearly Rs 12 lakh crore in a single trading session on Thursday.

Market analysts attribute the sharp decline to heightened geopolitical tensions, particularly attacks on key oil facilities and gas depots, which have pushed crude prices to record highs. The spike in energy costs has fuelled concerns over inflation and economic stability, leading to a broad sell-off in equities.

The downturn was further aggravated by Foreign Institutional Investors ...