Sensex falls 1,110 points, Nifty below 24,500; Tata Steel tumbles 7%
India Today
The BSE Sensex fell 1,122.66 points, or 1.40%, to close at 79,116.19, while the Nifty 50 declined 385.20 points to settle at 24,480.50.
Benchmark indices ended sharply lower on Wednesday as rising geopolitical tensions and a surge in crude oil prices weighed on investor sentiment across global markets.
The BSE Sensex fell 1,122.66 points, or 1.40%, to close at 79,116.19, while the Nifty 50 declined 385.20 points to settle at 24,480.50.
The sell-off came as investors reacted to escalating tensions in the Middle East, which have triggered concerns over potential disruptions to global energy supplies.
Higher crude oil prices and increased global uncertainty prompted investors to reduce exposure to riskier assets, leading to broad-based selling in equities.
Metal stocks were among the worst performers during the session. Tata Steel plunged around 7%, emerging as the biggest loser on the Nifty 50.
Shares of JSW Steel also declined sharply, while Larsen & Toubro slipped more than 6% as investors trimmed exposure to cyclical sectors such as metals, capital goods and infrastructure.
Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
When markets fall sharply, fear often takes over investing decisions. But did you know continuing SIPs during market crashes has historically rewarded disciplined investors?
The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
India consumes roughly 5.3 to 5.5 million barrels of crude oil every day. However, domestic production is only about 0.6 million barrels per day. This means the country depends on imports for nearly 85% of its oil needs.
At around 10:47 am, the BSE Sensex was down 750.68 points or 0.96% at 77,455.30, while the Nifty 50 slipped 208.25 points or 0.86% to 24,053.35.
Air India said the fuel surcharge is due to the sharp rise in aviation turbine fuel (ATF) prices since early March 2026, triggered by supply disruptions in the Gulf region.
Rahul Bhatia expressed gratitude to employees who worked tirelessly to restore operations during that challenging period, praising their resilience and dedication.
The Iran-US conflict has disrupted shipping through a key global oil export route, pushing oil prices higher. As a result, airline tickets on some routes have become much more expensive, and there are growing concerns that travel demand could weaken if the situation continues.