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Below the Quote on the impact of the tensions in middle-east on Indian equities from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited

"The near-term impact will be negative. Crude has spiked and if the crude price remains high for an extended period of time, our balance of trade and balance of payments will be impacted since we import around 85% of our oil requirements. OPEC Plus will scale up production and try to stabilize prices. If the strait of Hormuz is closed ( there are unconfirmed reports of this) the crude price can spike further. Trump may forcefully reopen this. But that requires boots on the ground which will escalate tensions further. 

Medium-term impact on the market will depend on how long the conflict will last. We don’t know the answer to this question. After crippling Iran, US and Israel may make a strategic withdrawal. The market will react very negatively. In a weak market, upstream oil companies and defense stocks will do well."

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