Mumbai News, 2 March 2026: Today, the Indian stock market (NSE and BSE) witnessed a sharp decline. Rising tensions in the Middle East, particularly the conflict between the USA, Israel, and Iran, have created a fearful environment in the global markets, which directly impacted the Indian market. The NSE’s Nifty 50 index and BSE’s Sensex recorded a significant drop at the time of opening.
As soon as the market opened, the BSE Sensex fell by 2,743.46 points to reach 78,543.73, indicating a decline of about 3.38% from the previous closing of 81,287.19. At the same time, NSE’s Nifty 50 index opened lower by 519.40 points at 24,659.25, a fall of 2.06% from the previous close of 25,178.65. This decline is considered one of the biggest single-day drops in the past few months.
Before opening, GIFT Nifty (formerly SGX Nifty) had fallen by 200 to 235 points, leading to expectations of a gap-down opening in the market. Weak signals from international markets, declines in Asian markets, and a 5 to 13 percent increase in crude oil prices created a fearful environment among investors. The situation has become more tense due to Iran’s counterattack following the US and Israel’s attack on Iran. This has increased investors’ inclination towards safe-haven investments, with gold prices rising and the US dollar strengthening.
After opening, the Sensex and Nifty soon saw a sharper decline. Between around 9:15 and 9:30 in the morning, the Sensex fell by 1,100 to 1,200 points, while the Nifty dropped below 24,800-24,900. The market breadth was extremely negative; on the NSE, 363 shares advanced while 2,551 shares fell. Midcap and smallcap indices also declined by 1.8 to 2.2 percent.
In the sectoral index, oil and gas, realty, auto, consumer durables, and financial services were the most affected. Only the metal sector remained somewhat in the green. India VIX (fear index) increased by 13 to 17 percent, leading to higher market volatility.
Investors suffered significant losses in their wealth. At the opening, BSE-listed companies’ market capitalisation recorded a decline of around 8 to 18 lakh crore rupees. A downturn was also observed in global markets; the US and Asian indices were weak.
According to experts, if the conflict in the Middle East prolongs, crude oil prices could rise further, affecting the Indian economy and inflation. Investors are being advised to be cautious. This market decline is part of the sell-off that began on Friday and intensified on Monday.
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