Indian Markets Plummet Amid Rising US-Iran Tensions

Indian Equity Indices Fall 1.29% Amid Global Uncertainty

On March 2, the Indian equity indices suffered a decline of over 1% due to weak global cues and escalating tensions between the US and Iran, which led to a significant increase in crude oil prices.

Market Performance

• Sensex: Down 1,048.34 points or 1.29% at 80,238.85.
• Nifty: Down 312.95 points or 1.24% at 24,865.70.
• Nifty Midcap and Smallcap indices: Down 1.5% each.

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The market remained volatile throughout the session, with the Nifty witnessing a sharp gap down start and attempting a swift intraday recovery. However, the rebound lacked follow-through, and the index soon resumed its downward trajectory.

Sectoral Performance

• Auto, Consumer Durables, and Oil & Gas indices: Down 2% each.
• Metals was the only sectoral index to end higher.

New Listings

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• Shree Ram Twistex: Listed at a discount of 34.61%, down 29% from its issue price.
• Clean Max: Listed at a discount of 8.83%, down 18.5% from its issue price.

Outlook for March 4

The Nifty is expected to face resistance at 25,000 and support at 24,600. A decisive breakdown below 24,600 could trigger a deeper correction in the market.