Stock Market LIVE: Sensex down 1,000 points, Nifty 50 slips below 25,000 on Iran war jitters

Shares of InterGlobe Aviation Ltd. (IndiGo) and SpiceJet Ltd., as well as those of Ixigo Ltd. and Easy Trip Planners Ltd. (easemytrip) fell as much as 13.5% after an escalating Iran war resulted in cancellation of flights to the Middle East.

Shares of Larsen & Toubro Ltd. fell as much as 7.48% over the previous close to ₹3,960.20 apiece, making the stock the biggest loser on the Nifty 50. Investors are weigh geopolitical tensions against L&T’s strong defence and infrastructure order book.

L&T faces headwinds from potential project delays in the Middle East where it has significant construction exposure, particularly in Saudi Arabia and UAE, which are catching strays of the Iran war.

MCX gold price has surged as much as 3.5% to ₹1,67,915.00/10 gm, even as silver prices spiked 3.7% to ₹2,93,152.00/kg as the Iran war triggered a flight to safe havens.

Shares of InterGlobe Aviation Ltd., the operator of IndiGo airlines, fell as much as 7.50% to an intraday low of ₹4,460.90 today due to flight cancellations triggered by the Iran war.

All 16 major sectors logged losses. The broader small-caps and mid-caps fell 3.8% and 3.4%, respectively.

Oil marketing companies, paint and tyre makers, aviation companies and chemical manufacturers all fell on rising crude oil prices.

The S&P BSE Sensex fell as much 2,743.46 points to 78,543.73 points even as the Nifty 50 shed more than 2%, due to elevated volatility and global risk-off sentiment emanating from the Iran war.

The India VIX has spiked to 17%.

The S&P BSE Sensex fell as much as 6,000 points, while the Nifty 50 slipped below 24,300 points in pre-opening session due to the Iran war that threatens to engulf the Middle East.

The Indian rupee weakens 27 paise against the US dollar to 91.25 amid geopolitical tensions stemming from the Iran war.

Global crude oil prices have surged to $76 per barrel, after rallying by as much as 13% to the highest since January 2025.

Tanker traffic through the Strait of Hormuz—the chokepoint off Iran’s coast that handles a fifth of the world’s oil and large volumes of gas—has largely halted, with a self-imposed pause in place by shipowners and traders as the Iran war spreads.

The spike in crude prices is set to pile fresh pressure on Indian markets, with aviation stocks, oil marketing companies, and sectors like paints, tyres and automobiles likely to open weak.

Analysts warn that a sustained rise in crude oil prices above $75 could shave off 20-30 basis points from India’s GDP growth and widen the current account deficit.

One basis point is one-hundredth of a percentage point.

GIFT Nifty futures have slipped below the 25,000 mark, indicating a cautious start for India’s stock market today.

The weak GIFT Nifty reading suggests Nifty 50 could test critical support at the 25,000 level, having already closed below the 200-day moving average of approximately 25,200 on Friday.

With India VIX already elevated, foreign portfolio investors are likely to intensify selling pressure, particularly in oil-sensitive sectors like aviation, paints, and automobiles.