India, March 3 -- Over the past five trading sessions, the Sensex, the Bombay Stock Exchange index, was down by almost 3,000 points, before it recovered a bit to close at just over 80,000 points on Monday. More than 2,000 points were shaved off in the last two trading sessions, obviously due to the joint US-Israel attacks on Iran, and retaliation by the latter on the US bases, and other locations like airports in the Middle East. Iran closed the Strait of Hormuz, which accounts for the sea transport of a fifth of the global crude oil supplies, and the bulk of the shipments to Asian nations such as India, China, Japan, and South Korea.

There are several reasons to explain the jitters among the investors. They encompass macro factors, as w...