Nifty 50, Sensex slide over 1% as Israel-US-Iran Conflict triggers global market sell-off

Indian equities opened deep in the red on Monday, with the Nifty 50 sinking 2.11 per cent at market open to hit an intraday low at 24,645, the 30-share pack Sensex tumbled over 3 per cent at the beginning of the session to hit an intraday low of 78,543 following the heightened conflict in the Middle East led by tension between Israel, US and Iran.

Mirroring the Nifty 50 index, the Bank Nifty opened weak at 59,204.30. Market breadth deteriorated immediately, reflected in the advance‑decline ratio of 4:46, signalling broad‑based selling pressure across sectors. Early in trade, only a handful of stocks managed to stay afloat as sentiment remained risk‑off amid heightened geopolitical concerns.

Among early movers, ONGC and Bharat Electronics (BEL) emerged as the notable gainers, benefiting from buying interest despite the weak market tone. On the other hand, several heavyweights dragged the indices lower, with IndiGo, Eternal, Larsen & Toubro, Adani Ports, Maruti, Tata Motors Passenger Vehicles (TMPV), and Asian Paints featuring among the prominent early losers.

Larsen & Toubro slipped nearly 4 per cent, reacting sharply to concerns linked to rising Middle East tensions, as analysts highlighted that around 40 per cent of the company’s revenues are tied to the region. The stock’s fall marked its biggest intraday decline since April 7, 2025. The broader weakness across the market suggested that geopolitical developments remained the dominant driver of sentiment as trading progressed.

At the market pre-open session, Nifty 50 crashed 1,000 points as escalating tensions between the US and Iran roiled global markets. Monday morning also saw a surge in crude prices, Brent jumped more than 13 per cent, briefly topping USD 80 a barrel,alongside a weakened rupee, which opened 27 paise lower at 91.25, added to the pressure.

Risk sentiment deteriorated across regions, with Asian shares slipping 1.2 per cent and US equity futures down 0.6 per cent, while safe‑haven flows pushed gold higher.

Notably, Gold prices climbed nearly 3 per cent on Monday (March 2) on the Multi-Commodity Exchange (MCX) as investors rushed into bullion amid rising safe-haven demand triggered by escalating tensions between the United States and Iran. On the Multi Commodity Exchange (MCX), gold futures opened nearly 3 per cent higher, gaining Rs 4,557 to start the session at Rs 1,66,661 per 10 grams. The contract extended gains to hit an intraday high of Rs 1,67,915.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)