India Stocks See Worst Day Since June 2024 as Growth Risks Mount

Indian equities took a heavy beating as US President Donald Trump’s ongoing war in Iran drives energy prices sharply higher, forcing investors to price in a higher risk of an economic slowdown.

The NSE Nifty 50 Index slumped 3.3% on Thursday — its biggest one-day loss since June 2024 — amid fears that rising input costs will hurt consumer demand and squeeze company profits. The ferocity of the selloff showed up in the NSE India Volatility Index, which logged its biggest jump since the start of the Middle East conflict.