Stock markets dive as West Asia conflict, crude oil prices continue to dent sentiment
The Hindu
Global equity markets plummet as West Asia tensions rise and oil prices surge, triggering significant investor anxiety.
Benchmark indices Sensex and Nifty dropped sharply in early trade on Monday (March 23, 2026) as West Asia conflict entered its fourth week driving crude oil prices higher.
A massive bearish trend in global equity markets and relentless foreign fund outflows also made investors jittery.
The 30-share BSE Sensex dived 1,555.62 points, or 2%, to 72,977.34 during initial trade. The 50-share NSE Nifty tanked 479.95 points, or 2%, to 22,634.55.
From the 30-Sensex firms, Tata Steel, State Bank of India, Bajaj Finance, Bharat Electronics, Titan, and Adani Ports were among the biggest laggards.
HCL Tech emerged as the only winner.
Brent crude, the global oil benchmark, climbed 0.62% to $112.9 per barrel.
Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
HDFC Bank terminates three senior officials over client onboarding issues at its DIFC branch amid ethical concerns following chairman's resignation.
Air India CEO warns of potential flight cuts and reduced travel demand due to rising fuel costs amid ongoing Gulf conflict.
Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market
India achieves 1 billion tonne coal production for the second consecutive year, ensuring stable energy supply and economic growth.
Generic drugmakers in India launch affordable Semaglutide versions, targeting a $1 billion diabetes and weight loss market.
Indian and Asian refiners eye Iranian oil purchases as U.S. waives sanctions amid energy crisis linked to the Iran-Israel war.
Iran war impacts pesticide prices, warning of a 20-25% rise and increased risk of counterfeit products during the kharif season.
India's forex reserves fell by $7 billion to $709.76 billion, according to RBI data for the week ending March 13.
Natco Pharma will launch its Semaglutide injection (multi dose vials) in the domestic market on Saturday.
Flipkart announces a 105% bonus payout for 2025, rewarding employees for strong growth and performance metrics.
Core sector growth in India plummeted to 2.3% in February, amid declining domestic production and impending West Asia crisis impacts.