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Shares tumbled connected Monday (March 2, 2026) arsenic the West Asia warfare pushed crude prices higher and triggered a formation to harmless havens, weighing connected capitalist sentiment.
The Nifty 50 fell 2.06% to 24,659.25 and the BSE Sensex shed 3.38% to 78,543.73 as of 9:15 a.m. IST.
This is the steepest intraday drop for Nifty since February 1 and the Sensex since April 7, 2025.
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Rupee depreciated against the dollar portion authorities enslaved yields roseate aft U.S., Israel strikes on Iran raised the risk of protracted struggle successful the Middle East.
All 16 large sectors logged losses. The broader small-caps and mid-caps fell 3.8% and 3.4%, respectively.
Oil selling companies, overgarment and tyre makers, aviation companies and chemic manufacturers each fell connected rising crude lipid prices.
Crude surged much than 7% connected Monday (March 2) to the highest successful months.
Brent crude futures climbed to astir $82.40 a barrel, their highest successful 14 months, successful the archetypal trading aft the U.S.-Israeli strikes connected Iran implicit the play killed Tehran’s Supreme Leader Ali Khamenei, jolting markets and deepening uncertainty for the planetary economy.
Tehran said it has closed navigation done the Strait of Hormuz, done which astir 20% of planetary lipid flows and implicit 40% of India’s crude imports transit, prompting governments and refiners to measure lipid stockpiles.
