- Sensex falls 1,100 points; Nifty down 330 in gap-down opening
- Realty, media and oil & gas stocks drag indices lower
- Rupee weakens to 91.26 per dollar; volatility seen ahead
- Global markets tumble; oil prices surge on supply fears
GG News Bureau
Mumbai, 2nd March: Indian equity markets opened sharply lower on Monday, mirroring a global sell-off triggered by escalating conflict in West Asia.
The BSE Sensex plunged over 1,100 points in early trade, while the NSE Nifty 50 declined 330 points, reflecting heightened investor anxiety.
At the pre-open session, the Sensex was down 3.4% or 2,743 points at 78,543.73, while the Nifty 50 slipped 519.40 points or 2.06% to 24,659.25. Earlier, the GIFT Nifty had signalled a weak start, sliding more than 150 points in early trade.
Broader markets also witnessed heavy selling. The Nifty Midcap 100 opened at 57,090.80 compared to its previous close of 59,115.60, while the Nifty Smallcap 100 started at 16,289.60 against 16,928.90 earlier.
Among sectoral indices, Nifty Realty emerged as the biggest drag, followed by Nifty Media and Nifty Oil & Gas. Realty counters such as Signature Global, Godrej Properties and Lodha Developers saw early declines.
Top losers at the opening bell included Aki India Ltd., Rajesh Exports Ltd., InterGlobe Aviation Ltd., Birla Corporation Ltd., and Future Lifestyle Fashions Ltd. In contrast, select stocks such as Sterlite Technologies Ltd., Bharat Dynamics Ltd., Multi Commodity Exchange of India Ltd., KEI Industries Ltd., and Mishra Dhatu Nigam Ltd. traded in the green.
The rupee also weakened sharply, opening at 91.26 against the US dollar compared to Friday’s close of 90.98.
The downturn followed coordinated US-Israel strikes on Iran over the weekend, sparking fears of a prolonged regional conflict. US President Donald Trump said combat operations would continue and indicated the confrontation could last “four to five weeks,” adding to investor uncertainty.
US stock futures tumbled overnight, with Dow Jones futures falling nearly 400 points at one stage. Futures on the S&P 500 and Nasdaq-100 also dropped around 1%, signalling broader global nervousness.
Trading was suspended on the Abu Dhabi Securities Exchange and the Dubai Financial Market for Monday and Tuesday, authorities in the UAE said.
Asian markets also opened sharply lower, with Japan’s Nikkei 225 and South Korea’s Kospi falling up to 2-3% before trimming losses. Hong Kong’s Hang Seng and China’s CSI 300 traded in negative territory.
Meanwhile, oil prices surged on fears of supply disruptions from the region. Brent crude and US crude futures jumped sharply, intensifying inflation concerns at a time when global growth remains fragile.
Market analysts expect volatility to remain elevated in the near term as geopolitical tensions and global cues continue to dictate investor sentiment.
