Stock Market Crash LIVE: The domestic benchmark indices, Nifty 50 and Sensex, extended their slump at the open on Wednesday, as escalating U.S.-Israel clashes with Iran lifted oil to a 19-month high, disrupted Middle East energy shipments and stoked fears of a prolonged conflict.
The Nifty 50 was down 1.92% at 24,388.8 and the BSE Sensex shed 2.13% to 78,528.82 as of 9:15 IST.
Domestic markets were closed on Tuesday, March 4 for Holi celebration. The benchmarks have lost about 2.5% each over the past two sessions.
The Indian rupee slid to a record low against the dollar while bond yields jumped as Middle East conflict kept oil prices elevated.
Asian markets
On the global front, Asian markets traded lower, while the US stock market ended with steep losses overnight, with the S&P 500 closing below its 100-day moving average for the first time since November 20.
The US-Israeli war on Iran escalated across the region, which President Donald Trump says has no fixed timeline. Iran launched a fresh wave of missiles around the Gulf. Israel said it struck the leadership compound in Tehran and sent soldiers into southern Lebanon.
Stay tuned to our Stock Market Today Live Blog for the latest updates.