Sensex Slum͏ps 1,122 Points, ͏Nifty ͏50 End͏s Belo͏w 24,500 As US-͏Iran W͏a͏r Fear͏s Spike͏ Oil To 19-Mo͏nth High 

Mumbai, Mar͏ch 4, 2͏02͏6: Indi͏an equity ben͏ch͏m͏arks e͏xtended l͏osses for a third consecutive ͏session͏ on ͏Wednesday as es͏calating tensions in West ͏Asia unsettled͏ global͏ ma͏rk͏ets, pushe͏d ͏crude oil to a 19-͏month hig͏h and ͏weighed ͏heavily o͏n domestic͏ assets. The͏ BSE Sensex tanked ͏1,122͏.66 points t͏o settle ͏at͏ 79͏,116.19, while the NSE Nifty 50 di͏v͏e͏d 385.20 ͏points ͏to close ͏at 24,480.50, ͏s͏lipping below the cru͏cial 24͏,500 ͏mark. 

Domestic markets had remained shut on Tues͏day, March 3, on account of H͏oli. Ove͏r t͏he͏ past two ͏trading sess͏io͏ns, bot͏h headline indices ha͏ve fallen around 2.5%. 

Sensex Falls ͏1,12͏2 Points As 27͏ ͏of 3͏0 St͏ocks En͏d Lower͏ 

The sell-off remained broad-based, with 27 out of 30 Sensex con͏stituents clos͏ing in th͏e red. Th͏e index h͏ad earli͏er͏ shed as ͏much ͏as 1,141 points ͏int͏raday, reflecting persis͏tent ͏pressur͏e througho͏ut ͏the session͏. 

On the͏ NSE, 46 Nifty 50 stocks ended lower. The Nif͏t͏y Bank index decli͏ned 1,084 p͏oints to 58,755, while t͏h͏e Midcap index dropped 1,255 points to 56,925,͏ underscoring͏ weakness beyon͏d ͏fron͏tl͏ine c͏ount͏ers. The BSE ͏MidCap index fe͏ll 1.5% ͏and the͏ BSE ͏SmallCap in͏dex͏ lost ͏2͏.1%,͏ si͏gnalling͏ widespread correcti͏on͏ ac͏r͏oss market c͏a͏pitalisation͏s. 

Oil At $82 and War Escalation Drive Risk-Off Mood 

The decline followed intensified conflict involving the United States, Israel and Iran, which disrupted sentiment across global markets. Iran reportedly launched fresh missile attacks around the Gulf, while Israel said it struck leadership targets in Tehran and sent troops into southern Lebanon. US President Donald Trump stated that the conflict has no fixed timeline. 

Brent crude prices climbed to around $82 per barrel, marking a sharp rise in recent days. Elevated oil prices heightened concerns over inflationary pressures and external balances for oil-importing economies such as India, adding to the market’s cautious tone. 

Rupee Hits Record 92.30 As Yields Jump 

Currency markets reflected the strain, with the Indian rupee sliding to a record low of 92.30 against the US dollar during the session. It settled at 92.1500 per dollar at 1530 IST, weakening from 91.4700 in the previous session. 

Rising crude prices and global uncertainty contributed to the depreciation, while bond yields moved higher amid concerns over sustained geopolitical tensions. 

Global Markets Weak As S&P 500 Breaks Key Level 

Asian equities traded lower in line with global risk aversion. Overnight, US markets ended sharply down, with the S&P 500 closing below its 100-day moving average for the first time since 20 November, reflecting mounting global uncertainty. 

The negative global cues added to domestic pressure, reinforcing the downward momentum seen across Indian benchmarks. 

Metal Index Slides; IT Sole Gainer At 0.11% 

Sectorally, losses were pronounced in metal and realty counters. The Nifty Metal index emerged as the top sectoral loser, mirroring global commodity volatility. 

In contrast, Nifty IT ended marginally higher by 0.11%, standing out as the only sectoral gainer in an otherwise weak session. 

Among notable movers, Petronet LNG fell 9% after Qatar halted LNG production, while L&T extended losses, declining nearly 10% over the past four sessions. JSW Infra slipped 2% after a storage tank was hit by debris at Fujairah Liquid Terminal in the UAE. In the sugar segment, Balrampur Chini rose 8% amid the spike in oil prices, and Paras Defence advanced over 8% after signing a memorandum of understanding with South Korea’s Green Optics. 

719 Stocks Hit 52-Week Lows; Only 3 Sensex Gainers 

As many as 719 stocks, including Swiggy, SBI Cards and Payment Services, IRFC, RVNL, REC, Concor, DLF, Naukri, Page Industries, Procter & Gamble Hygiene and Health Care, and Shree Cement, touched their 52-week lows in intraday trade on the BSE. Shares such as ACC, Bata India, Brigade Enterprises, Godrej Industries and IRCON International were also among the laggards. 

In contrast, 53 stocks, including Sai Life Sciences and Acutaas Chemicals, scaled their 52-week highs. 

Within the Sensex, only Bharti Airtel (up 1.78%), Infosys (up 1.50%) and Tech Mahindra (up 0.51%) ended higher. Tata Steel (down 6.76%), Larsen and Toubro (down 4.53%) and Bajaj Finance (down 3.36%) were the top losers. Meanwhile, 15 stocks rallied over 15%, while an equal number declined by more than 15%, highlighting sharp stock-specific volatility. 

India VIX Jumps 22% to 20.83 

Market volatility spiked sharply, with the India VIX rising 22% to 20.83, signalling heightened uncertainty. Market breadth remained firmly negative, with the NSE advance-decline ratio at 1:5, indicating five declining stocks for every advancing one. 

Foreign institutional investors sold Indian equities worth over ₹3,295 crore in the previous session, contributing to liquidity pressure amid already fragile global cues. 

The session reflected synchronised pressure across equities, currency and commodities following escalating West Asia tensions and rising crude prices. With benchmark indices down over 1,100 points and volatility elevated, the immediate focus remains on global geopolitical developments, oil price movements and currency stability as key variables influencing domestic market conditions.