Stock Market Crash LIVE: The domestic benchmark indices, Nifty 50 and Sensex, extended their slump at the close 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.
Sensex tanked 1,122.66 points to settle at 79,116.19; Nifty 50 dived 385.20 points to 24,480.50.
On the sectoral front, Nifty IT ended the day as the lone sectoral gainer, ending with a modest gain of 0.11%.
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.