Analysts believe India’s heavy dependence on oil imports is raising concerns about inflation, a widening trade deficit, a depreciating currency and slower economic growth, which could impact corporate profits if the conflict continues.
Escalating geopolitical tensions led to a sell-off in the broad market.
The strengthening of the US dollar put pressure on investor sentiment.
Global commodity prices corrected, weighing on key sectors.
Profit bookings and technical sales reinforced the decline.
Coal India, Infosys and Bharti Airtel led the Nifty 50 gainers, while Tata Steel, L&T and TMPV led the steep losses.
At 12:50 PM, Sensex was trading 1,422.02 points or 1.77 percent lower at 78,816.83, hitting an intraday low of 78,443.20 against the previous close of 80,238.85. Nifty 50 advanced 477.70 points or 1.92 percent to 24,388.
Both midcap and smallcap indices fell almost 3 per cent, with sectoral indices in the red across the board, led by metal, real estate and PSU banking stocks, which fell 4-5 per cent, adding to the market weakness.
Metal, real estate, PSU Bank stocks drag
Under the Nifty 50 pack, Coal India, Infosys and Bharti Airtel led the gainers, while Tata Steel, L&T, TMPV and JSW Steel fell sharply to 8 per cent.
A total of 3,195 stocks traded on the National Stock Exchange, of which 445 rose, 2,664 fell and 86 remained unchanged. Of these, 11 stocks hit their 52-week high, while 535 hit their 52-week low. Market volatility was evident as 29 stocks reached the upper circuit limits, but a significantly larger number, 134 stocks, reached the lower circuit limits.
In the midcap segment, Oil India, Swiggy, Persistent Systems, PB Fintech and MphasiS posted modest gains, while SAIL, Bank of India, Indian Bank, NMDC and ITC Hotels fell 5-7 per cent.
Among small caps, Sagility, Zen Tech, Ola Electric and CreditAccess rose 2 to 7 percent, while MGL, Aegis Vopak, PGEL and Hindustan Copper fell 5 to 8 percent.
On the BSE, Bajaj Holdings, Sagility, Poly Medicure and Shree Renuka Sugars rose 6-9 per cent, while on the other hand, Petronet LNG, MGL and Lumax plunged up to 9 per cent at the time of writing.
Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, advised investors to consider buying high-quality stocks in sectors like banking, pharmaceuticals, auto and defense for long-term opportunities.
Published on March 4, 2026
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