Mumbai, March 2: The Indian stock market is witnessing a significant decline due to the ongoing Israel-Iran war. By 12:30 PM, the Sensex had fallen by 1,486 points or 1.83 percent, settling at 79,806, while the Nifty dropped 453.35 points or 1.80 percent to 24,725.
The most considerable losses were observed in the auto and consumer durables sectors, with Nifty Auto and Nifty Consumer Durables both down by three percent. Other sectors also faced declines, including Nifty Infra at 2.77 percent, Nifty Realty at 2.39 percent, Nifty Oil and Gas at 2.30 percent, and Nifty Energy at 2.22 percent.
Midcap and small-cap stocks also experienced substantial drops, with the Nifty Smallcap 100 Index down 362 points or 2.14 percent at 16,566, and the Nifty Midcap 100 Index down 1,200 points or 2.03 percent at 57,914.
Among the gainers in the Sensex pack were BEL, Sun Pharma, and Bharti Airtel. In contrast, major losers included L&T, Indigo, Maruti Suzuki, M&M, Asian Paints, and several banks such as SBI, HDFC Bank, and ICICI Bank.
The market capitalization of all listed shares on the Bombay Stock Exchange (BSE) has decreased by ₹9 lakh crore, now standing at ₹454 lakh crore, down from ₹463 lakh crore.
The decline is attributed to the Israel-Iran conflict, which has also drawn in the United States and several Gulf countries. Additionally, the depreciation of the rupee against the dollar is putting further pressure on the market.
On the other hand, gold and silver prices have surged, with gold rising over three percent to $5,415 per ounce and silver increasing by 2.70 percent to $95 per ounce. Brent crude prices have also risen by nine percent to $79 per barrel, while WTI crude is up eight percent at $72 per barrel.
Disclaimer: This news is sourced directly from the agency, and our team has not made any edits.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
