Indian markets open deep in red on Holi:Sensex nosedives 1,700 points; Nifty slumps 500 points; South Korea’s KOSPI crashes 10%

Indian stock markets opened deep in red on Holi with Sensex 30 nosediving 1,700 points and Nifty 50 plummeting 500 points. The 30 constituent index fell to 78,500 points while the broader gauge dropped to 24,327 points. Rupee slumps to all-time low on Wednesday The Indian currency rupee slumped 66 paise to all-time low of 92.15 against US dollar in early trade on Wednesday. Crude oil rises over 13% in 3 days Brent crude is up about half a percent today. It has crossed $80 per barrel. Its price has risen more than 13% in the last three days. Experts believe that if this tension increases further, oil prices could go up to $120 per barrel. This could affect petrol-diesel prices in India. Gold prices surge by ₹1,600, reaches ₹1.63 lakh Gold prices in the futures market (MCX) are up more than 1% on Wednesday. It is trading at ₹1.63 lakh per 10 grams after rising by ₹1,600. Meanwhile, silver is trading at ₹2.73 lakh per kilo, up by ₹2,000 (0.7%). On Tuesday, commodity prices had fallen due to profit booking.