Stock Market Crash Today Reason: Indian stock market indices Sensex and Nifty 50 crashed more than 2 per cent each on Monday (March 23) as the Middle East war escalated.
The BSE Sensex tumbled 1,836.57 points or 2.46 per cent to close at 72,696.39. During the day, Sensex made an intraday low of 72,558.44.
Similarly, the Nifty index tanked 601.85 points, or 2.60 per cent, to end at 22,512.65.
Top Gainers, Losers
Among the Sensex firms, Titan tumbled the most by 6.24 per cent. Trent, UltraTech Cement, Bharat Electronics, InterGlobe Aviation, Tata Steel, and HDFC Bank were also among the major laggards.
HCL Tech, Power Grid, Infosys, and Tech Mahindra were the winners.
Why the Stock Market Is Falling: Key Reasons
Middle East War: The Middle East war involving the US< Israel and Iran has entered the fourth week. The US has now threatened to attack energy facilities. This has prompted Iran to target energy infrastructure and also critical water desalination facilities in the Gulf.
Oil Prices: Crude oil prices have remained elevated due to the closure of the Strait of Hormuz. Nearly 20 per cent of the world's oil passes through this maritime route. Brent crude, the global oil benchmark, jumped 0.97 per cent to USD 113.3 per barrel.
FII Selling: Relentless foreign fund outflows have also kept the markets under pressure. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,518.39 crore on Friday (March 20). Foreign investors have pulled out Rs 88,180 crore from India in March so far. In 2026, foreign investors have offloaded Indian equities worth more than Rs 1 lakh crore.
Weak Rupee: The continuous weakness in the rupee has also made investors risk-averse. On Monday, the rupee breached the 94/dollar barrier for the first time, slumping 50 paise to a new record closing low of 94.03 (provisional) against the greenback. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent higher at 99.78.
