E-Paper
Iran war pulls down Sensex, Nifty 50 to levels not seen in months
The Nifty 50 dropped 1.24% to a one-month low of 24,865.70 while the BSE Sensex shed 1.29% to 80,238.85—the lowest in six months.
Indian stock market tumbled on Monday as the escalating Iran war pushed crude oil prices higher and triggered investor flight to safe havens such as gold and the US dollar. The Nifty 50 dropped 1.24% to a one-month low of 24,865.70 points while the BSE Sensex shed 1.29% to 80,238.85—the lowest in six months....Read More
The rupee depreciated against the dollar, and government bond yields rose after the US and Israel struck Iran over the weekend, killing its supreme leader, which spurred retaliation from Tehran.
Iran war impact on India
The Middle East supplies about half of India's crude imports, and is the source of 40% of remittances and the destination for 17% of India's exports, according to Jefferies and BofA Securities.
A spike in crude oil prices and trade disruption drive up the cost of imported goods, weakens the rupee and stokes inflation, squeezing businesses and households alike.
Iran closed navigation via the Strait of Hormuz, likely disrupting ~20% of global oil flows and more than 40% of India's crude oil imports. Brent crude surged 8.1% to $78.8 per barrel.
Indian economy slips on crude oil
The Indian economy has seen strong growth and low inflation over the past year, but a jump in crude oil prices and disruption in shipping routes could risk tipping the balance, analysts said.
“As a large crude importer, India faces clear near-term headwinds, and prolonged conflict could push Nifty below 24,500 levels,” Bernstein analysts Venugopal Garre and Nikhil Arela said. “The larger macro concern (due to rise in oil prices) is a renewed burst of inflation that delays rate cuts and crimps consumption as prices rise.”
The government can initially shield households by absorbing part of the shock via “oil market companies' balance sheets” and its own fiscal measures, but that “constrains budget headroom and risks crowding out domestic capex”, they said.
India's stock market closed on Tuesday due to Holi
India's equity, currency and debt markets will be closed on Tuesday due to Holi celebrations.
Closing Bell
The Nifty 50 dropped 1.24% to a one-month low of 24,865.70 points while the BSE Sensex shed 1.29% to 80,238.85—the lowest in six months.
Fourteen of the 16 major sectors logged losses. The broader small-caps and mid-caps fell 1.8% and 1.6%, respectively.
Shares of oil marketing companies, paint and tyre makers, aviation firms and chemical manufacturers slipped as crude oil prices rose.
• Reliance Industries Ltd., which operates the world's largest refinery in Jamnagar, Gujarat, dropped 2.58% to ₹1,358.35.
• Larsen & Toubro Ltd. (L&T) fell 5% as the Middle East “is a strategically significant market”, citing its long-standing presence across energy, infrastructure, renewables and technology sectors.
• ONGC Ltd. and Oil India Ltd. rose about 0.9% each as oil explorers benefit from higher crude prices.
Saudi Aramco shuts Ras Tanura refinery after drone strike
Saudi Aramco has shut down its Ras Tanura refinery as a precautionary measure after it was hit by a drone, Reuters reported Monday, adding that the situation was under control. Prices of Brent crude oil surged to $80/barrel on the news.
Indian Oil-led refiners eye Russian crude oil again
India's state-run refiners led by Indian Oil Corp. Ltd. met government officials over the weekend to hammer out contingency plans as an escalating Iran war choked the Strait of Hormuz—a narrow waterway in the Middle East that carries nearly half of India's oil imports on a daily basis.
Among the options is turning to Russian oil, tankers full of which are loitering near India's waters, Bloomberg News reported citing people familiar with the discussions.
Govt officials could also press Reliance Industries Ltd. to divert more fuel to the domestic market, while other refiners tweak output to maximise LPG production.
India Manufacturing PMI in February
India's manufacturing activity expanded at its fastest pace in four months in February as strong domestic demand drove new orders and production, but export growth cooled to its slowest rate in nearly a year-and-a-half.
Stock Market LIVE: India VIX spikes on Iran war
The India Volatility Index soared to a nine-month high today. The India VIX jumped nearly 20% to 16.38—a level last seen during the 12-day Israel-Iran war in June 2025.
Stock Market LIVE: Sensex, Nifty 50 Check
India's stock market sustained losses in the first hour of trading with S&P BSE Sensex still down over 1,000 points. The Nifty 50 showed some recovery but was still below the crucial 25,000-mark.
The India VIX surged 12% to 16.8, reflecting heightened volatility due to the Iran war and surge in crude oil prices due to closure of the Strait of Hormuz.
Nifty 50 LIVE: Indian Oil, BPCL, HPCL down up to 4%
Shares of India's oil marketing companies—Indian Oil Corp. Ltd., Bharat Petroleum Corp. Ltd. (BPCL) & Hindustan Petroleum Corp. Ltd. (HPCL) fell as much as 4% due to a surge in crude oil prices. The Iran war has effectively choked the Strait of Hormuz, which carries nearly 50% of India's oil imports.
Nifty 50 LIVE: Defence stocks in focus amid Iran war
Shares of Indian defence companies, including Paras Defence Ltd. and IdeaForge Technology Ltd. surged as much as 13% each amid escalating Iran war in the Middle East. However, gains in Defence PSUs Hindustan Aeronautics Ltd. and Bharat Electronics Ltd. were largely muted.
Nifty 50 LIVE: IndiGo, SpiceJet stocks under pressure
Shares of InterGlobe Aviation Ltd. (IndiGo) and SpiceJet Ltd., as well as those of Ixigo Ltd. and Easy Trip Planners Ltd. (easemytrip) fell as much as 13.5% after an escalating Iran war resulted in cancellation of flights to the Middle East.
Stock Market LIVE: L&T emerges top loser on Nifty 50
Shares of Larsen & Toubro Ltd. fell as much as 7.48% over the previous close to ₹3,960.20 apiece, making the stock the biggest loser on the Nifty 50. Investors are weigh geopolitical tensions against L&T's strong defence and infrastructure order book.
L&T faces headwinds from potential project delays in the Middle East where it has significant construction exposure, particularly in Saudi Arabia and UAE, which are catching strays of the Iran war.
Stock Market LIVE: MCX Gold up 3.5%, MCX Silver up 3.7%
MCX gold price has surged as much as 3.5% to ₹1,67,915.00/10 gm, even as silver prices spiked 3.7% to ₹2,93,152.00/kg as the Iran war triggered a flight to safe havens.
Stock Market LIVE: IndiGo share price down 7.5%
Shares of InterGlobe Aviation Ltd., the operator of IndiGo airlines, fell as much as 7.50% to an intraday low of ₹4,460.90 today due to flight cancellations triggered by the Iran war.
Stock Market LIVE: All Nifty Indices in the Red
All 16 major sectors logged losses. The broader small-caps and mid-caps fell 3.8% and 3.4%, respectively. Oil marketing companies, paint and tyre makers, aviation companies and chemical manufacturers all fell on rising crude oil prices.
Stock Market LIVE: Sensex, Nifty 50 sink on Ira war jitters
The S&P BSE Sensex fell as much 2,743.46 points to 78,543.73 points even as the Nifty 50 shed more than 2%, due to elevated volatility and global risk-off sentiment emanating from the Iran war.
The India VIX has spiked to 17%.
Stock Market LIVE: Sensex, Nifty 50 tank in pre-opening session
The S&P BSE Sensex fell as much as 6,000 points, while the Nifty 50 slipped below 24,300 points in pre-opening session due to the Iran war that threatens to engulf the Middle East.
Stock Market LIVE: Rupee weakens against Dollar
The Indian rupee weakens 27 paise against the US dollar to 91.25 amid geopolitical tensions stemming from the Iran war.
Stock Market LIVE: Crude oil prices surge to #76/barrel
Global crude oil prices have surged to $76 per barrel, after rallying by as much as 13% to the highest since January 2025.
Tanker traffic through the Strait of Hormuz—the chokepoint off Iran’s coast that handles a fifth of the world’s oil and large volumes of gas—has largely halted, with a self-imposed pause in place by shipowners and traders as the Iran war spreads.
The spike in crude prices is set to pile fresh pressure on Indian markets, with aviation stocks, oil marketing companies, and sectors like paints, tyres and automobiles likely to open weak.
Analysts warn that a sustained rise in crude oil prices above $75 could shave off 20-30 basis points from India's GDP growth and widen the current account deficit.
One basis point is one-hundredth of a percentage point.
Subdued GIFT Nifty signals Nifty 50 to test 25,000 levels
GIFT Nifty futures have slipped below the 25,000 mark, indicating a cautious start for India's stock market today.
The weak GIFT Nifty reading suggests Nifty 50 could test critical support at the 25,000 level, having already closed below the 200-day moving average of approximately 25,200 on Friday.
With India VIX already elevated, foreign portfolio investors are likely to intensify selling pressure, particularly in oil-sensitive sectors like aviation, paints, and automobiles.
