Tata Steel, L&T, JSW Steel: Why these stocks fell up to 8% today
India Today
Shares of Tata Steel, Larsen & Toubro and JSW Steel plunged sharply as global tensions and rising crude oil prices rattled markets. Read on to understand what triggered the sell-off today.
Shares of Tata Steel, Larsen & Toubro and JSW Steel were among the worst performers on the Nifty 50 on Wednesday as global uncertainty triggered selling in cyclical sectors.
On the Nifty50, Tata Steel was trading at Rs 195.17, down 7.51%, while Larsen & Toubro fell 6.24% to Rs 3,813.00. JSW Steel declined 5.23% to Rs 1,201.00 as of 12:28 pm.
The decline comes amid rising geopolitical tensions in the Middle East and a sharp increase in crude oil prices, which have unsettled financial markets worldwide.
These developments have made investors cautious, prompting them to reduce exposure to sectors that are closely tied to economic growth.
Below are the key factors that are influencing these stocks.
The primary driver behind the fall in these stocks is a broader shift in investor sentiment.
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.