Broader markets mirrored the carnage.
Markets remained under severe pressure in afternoon trade on Monday, with the sell-off intensifying since the morning open as geopolitical tensions stemming from the US-Israel strikes on Iran continued to weigh on investor sentiment. At 12.51 pm, the BSE Sensex was trading at 79,676.24, down 1,610.95 points or 1.98 per cent from its previous close of 81,287.19. The NSE Nifty 50 stood at 24,686.65, a decline of 492 points or 1.95 per cent from Friday’s close of 25,178.65.
The losses deepened considerably from the morning session, when the Sensex had recovered to around 80,573 and the Nifty was hovering near 24,962. By midday, both indices had retreated sharply, with the Nifty now trading well below the psychologically significant 25,000 level and below its 200-day simple moving average of 25,300.
Broader markets mirrored the carnage. The Nifty Midcap 100 fell 2.12 per cent to 57,857.85, the Nifty Smallcap 100 dropped 2.24 per cent to 16,549.85, and the Nifty Next 50 was down 2.09 per cent at 68,257.15. Nifty Financial Services shed 1.63 per cent to 27,421.10, while Nifty Bank declined 1.40 per cent to 59,682.25. On the BSE, out of 4,376 stocks traded, only 595 advanced against 3,614 declines, with 809 stocks hitting 52-week lows — a stark indicator of market-wide distress.
Among Nifty 50 losers, L&T bore the sharpest blow, plunging 6.94 per cent to ₹3,981.50 from its previous close of ₹4,278.30 — a steeper fall than seen in the morning session. IndiGo declined 5.99 per cent to ₹4,538.10 from ₹4,827.20, with the airline continuing to face operational disruption from flight suspensions on UAE routes. Adani Ports dropped 5.33 per cent to ₹1,440.00 from ₹1,521.00. Jio Financial Services fell 3.95 per cent to ₹245.30 from ₹255.40, and Adani Enterprises declined 3.88 per cent to ₹2,078.00 from ₹2,161.80.
With only four gainers on the Nifty 50, buying interest remained thin. BEL rose 1.03 per cent to ₹449.30 from ₹444.70. ONGC gained 0.64 per cent to ₹281.50 from ₹279.70, benefitting from elevated crude oil prices. Sun Pharmaceutical Industries added 0.61 per cent to ₹1,747.60 from ₹1,737.00, and Bharti Airtel edged up 0.22 per cent to ₹1,883.50 from ₹1,879.30.
The conflict’s ripple effects on crude oil — which surged nearly 9 per cent in early Asian trade to the $72-73 per barrel range — remain the central concern for India, which routes 50 per cent of its crude imports through the Strait of Hormuz. With the weekly Nifty options expiry falling today, ahead of Tuesday’s Holi holiday, positioning activity is amplifying intraday swings. Markets will be closely tracking any geopolitical developments out of West Asia for direction in afternoon trade.
Published on March 2, 2026