The Indian stock market fell due to the surge in oil prices and hawkish comments from the Federal Reserve.

The Indian stock market opened lower on Thursday, as the escalation of the Iran war once again caused Brent crude oil to surge above $110 per barrel, while the hawkish stance of the Federal Reserve added pressure. After part-time Chairman Atanu Chakraborty resigned, India's largest private bank and the stock with the highest weighting in the benchmark index, HDFC Bank HDBK.NS, dropped significantly, deepening market losses. The Nifty 50 index fell by 2.44% to 23,197.75 points, while the BSE Sensex index fell by 2.55% to 74,750.92 points. All 16 major sectors saw declines, with the financial sector index falling by 3%, the banking sector falling by 3.4%, dragged down by HDFC Bank's 8.7% decline.