NASDAQ:MRM 9 October 2025

March 23, 2026, 1:34 AM EDT. Indian stock markets plunged sharply on Monday amid escalating Iran-US-Israel conflict and a weakening rupee. The Sensex fell over 1,800 points to 72,784, with the Nifty 50 sliding below 22,550 to 22,538. This selloff erased nearly Rs 13 lakh crore from the market capitalization of BSE-listed companies, bringing it down to Rs 416 lakh crore. All 30 Sensex stocks traded in the red, led by Tata Steel, SBI, and HDFC Bank. Sectoral indices, particularly Nifty Metal and PSU Bank, declined sharply. Oil prices surged past $110 per barrel due to the conflict's threat to the Strait of Hormuz, a vital global oil passage. Simultaneously, the rupee hit a new lifetime low, pressured by rising oil costs and foreign institutional investor selling. The volatility echoes the market turmoil of March 2020, highlighting geopolitical risks weighing on Indian markets.