Sensex crashes 487 points, Nifty 150 day after US strikes Iran's nuclear sites

Equity benchmarks opened lower on Monday as geopolitical tensions escalated following US airstrikes on three nuclear sites in Iran. The BSE Sensex dropped 487 points to 81,920 in early trade, and the NSE Nifty fell 150 points to 24,914.95.

IT and financial stocks led the decline, with Infosys losing 2.05%, HCL Tech down 1.31%, and TCS falling 1.08%. Bajaj Finance and Hindustan Unilever also saw early losses. Bharat Electronics and Bharti Airtel were the only notable gainers in the opening session.

IT companies were the worst-hit sector, with losses across multiple firms. Coforge slipped 0.47%, while HCL Tech, Infosys, and TCS all recorded declines. Investors responded to the uncertainty following the US strikes on Iran’s uranium enrichment site at Fordow and nuclear facilities in Isfahan and Natanz.

The Indian Rupee fell by 20 paise to 86.75 against the US dollar during morning trade. Global crude oil prices rose sharply, with Brent crude gaining 1.69% to reach USD 78.31 per barrel. The rise in crude prices added to concerns about inflation and trade imbalances.

Asian markets opened mixed. South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng registered early losses, while China’s Shanghai Composite Index traded marginally higher. On the previous trading session, Indian indices had closed over 1% higher after a three-day losing streak.