Stock Market Today: Sensex, Nifty Crash as US–Israel–Iran Conflict Triggers Sharp Selloff and Heavy Investor Losses

The Indian equity market witnessed yet another red day  with the NSE Nifty extending its losses to open below its major crucial levels, amid escalating conflict between the US, Israel and Iran, as well as rising crude oil prices. In the opening trade at 9:15 am, the Nifty opened down by 476.90 points or 1.92% at 24,388.8, while the BSE Sensex was lower by 1,710.03 or 2.13% at 78,528.82.Analysts have warned that a decisive breach below the 24,600 level on the benchmark index could open the door for a further decline toward 24,400.

The weakness in domestic equities mirrored global trends. US markets ended lower on Tuesday amid concerns over the duration of the Middle East conflict, although major indices recovered from their intraday lows. Selling was widespread across sectors, with materials emerging as the worst performer among the S&P 500 segments, while the Cboe Volatility Index moved higher, reflecting heightened uncertainty.Asian markets extended losses for a third consecutive session as oil prices inched up, with the conflict in Iran raising fears of renewed global inflationary pressures. The developments prompted traders to scale back expectations of imminent interest rate cuts by the Federal Reserve. Market breadth remained sharply negative in early trade, with most BSE Sensex stocks trading in the red. Heavy selling was seen in metals, autos, financials and infrastructure stocks.

Among the biggest losers were LT (-6.7%), Tata Steel (-4.8%), IndiGo (-4%), UltraTech Cement (-3.9%), Adani Ports (-3.5%) and Reliance Industries (-3.3%). Financial stocks including Axis Bank, ICICI Bank, Kotak Bank and HDFC Bank also declined.Market volatility surged sharply during the opening session. The India VIX jumped 17.04% to 20.05, crossing the key 20 mark. Typically, a VIX level above 20 signals heightened investor anxiety and expectations of bigger market swings in the near term.Market volatility surged sharply during the opening session. The India VIX jumped 17.04% to 20.05, crossing the key 20 mark. Typically, a VIX level above 20 signals heightened investor anxiety and expectations of bigger market swings in the near term.