Last mentioned: Mar 9, 2026
A massive sell-off triggered by escalating Middle East tensions saw the Sensex plunge 2,400 points, erasing over Rs 12 lakh crore in investor wealth. The surge in Brent crude prices above $115 per barrel has raised acute fears regarding India's fiscal deficit, inflation, and currency stability.
A massive sell-off in Indian equities wiped out Rs 12.39 lakh crore in market value as Brent crude surged past $115 per barrel. The crash, driven by escalating Middle East tensions and threats to the Strait of Hormuz, signals a period of high volatility for energy-dependent logistics and manufacturing sectors.
The Indian equity benchmarks, Sensex and Nifty, remained largely unchanged in recent trading sessions, failing to find clear direction despite global cues. A significant 1.35% decline in the IT index served as a primary weight on the broader market, reflecting investor caution regarding sectoral valuations.