Taking Stock: Sensex sinks 1,048 pts, Nifty below 24,900 on rising US-Iran tensions

Stock Market Today

• Sensex and Nifty fell over 1% amid US-Iran tensions and oil surge
• Nifty midcap and smallcap indices dropped 1.5 percent each
• Shree Ram Twistex and Clean Max shares fell sharply on debut

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The Indian equity indices fell more than 1% on March 2 amid weak global cues, as escalating tensions between the US and Iran pushed crude oil prices sharply higher, dampening investor sentiment.

Amid rising geopolitical concerns, the indices opened lower, dragging the Nifty near 24,600 in early trade. Although the market witnessed some recovery as the session progressed, it eventually ended in the red, with the Nifty closing below 24,900.

At close, the Sensex was down 1,048.34 points or 1.29 percent at 80,238.85, and the Nifty was down 312.95 points or 1.24 percent at 24,865.70.

The Nifty midcap and smallcap indices fell 1.5 percent each.

Market will remained shut on March 3 (Tuesday) on account of Holi.

Also Read - Can Indian markets repeat past March gains amid rising risks?

Biggest Nifty losers were L&T, Interglobe Aviation, Adani Ports, Tata Motors Passenger Vehicles, Adani Enterprises, while gainers included Bharat Electronics, Sun Pharma, ONGC, Dr Reddy's Labs and Hindalco.

Except metals, all other sectoral indices ended lower with Auto, Consumer Durables, Oil & Gas down 2 percent each.

Index	Prices	Change	Change%
Sensex	74,563.92	-1,470.50	-1.93%
Nifty 50	23,151.10	-488.05	-2.06%
Nifty Bank	53,757.85	-1,343.10	-2.44%

Nifty 50 23,151.10 -488.05 (-2.06%)

Fri, Mar 13, 2026

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
TATA Cons. Prod	1,083.60	25.80	+2.44%

Biggest Loser	Prices	Change	Change%
Larsen	3,439.00	-280.50	-7.54%

Best Sector	Prices	Change	Change%
Nifty FMCG	47924.15	-265.00	-0.55%

Worst Sector	Prices	Change	Change%
Nifty Metal	11292.50	-571.40	-4.82%

Also Read - Manufacturing activity surges to four-month high of 56.9 in February as factory momentum strengthens

More than 840 stocks touched their 52-week low, including Rail Vikas Nigam, Trident, IRB Infra, Adani Total Gas, Ola Electric, Ircon International, Balkrishna Industries, AWL Agri, IRFC, Suzlon Energy, Latent View, AAVAS Financier, Sterling Wilson, Bajaj Housing, Jupiter Wagons, Sagility, UCO Bank, Alkyl Amines, among others. Click to View More

Also Read - Policy rates likely to stay same or go lower: RBI Governor Sanjay Malhotra

New Listing

Shree Ram Twistex shares ended 29 percent lower after making weak market debut today with a discount of 34.61 percent, at Rs 68 per share. The Rs 110-crore issue had a price band of Rs 95-104 per share.

Clean Max shares ended 18.5 percent lower after listed at discount of 8.83 percent at Rs 960 per share on the National Stock Exchange (NSE). The Rs 3,100-crore IPO had a price band of Rs 1,000-1,053 per share.

Outlook for March 4

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty opened gap down amid weakness emerging from the Middle East. The index has slipped below the rising trendline on the daily timeframe, indicating increasing pessimism in the market. The RSI remains in a bearish crossover, confirming weak momentum.

The immediate crucial support is placed at 24,600. A decisive breakdown below this level could trigger a deeper correction in the market. On the higher side, resistance is seen at 25,000. Until the Nifty sustains above 25,000, overall sentiment is likely to remain tilted in favor of the bears.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Monday, domestic equity markets opened on a distinctly negative note, with the benchmark Nifty50 witnessing a sharp gap down start as escalating geopolitical tensions between the US and Iran weighed heavily on global sentiment. The index attempted a swift intraday recovery, staging a pullback within the first minute and briefly touching the day’s high of 24,989. However, the rebound lacked follow through, and the index soon resumed its downward trajectory.

Nifty slipped below the low of its opening candle, signalling sustained selling pressure throughout the session. Yet, in the final hour, markets saw another round of short covering that helped trim a portion of the losses. Ultimately, the index settled at 24866, down 1.24%.

Technically, the index found temporary support near the Union Budget low. However, the broader structure remains vulnerable as Nifty continues to trade below key short-term moving averages. The daily RSI falling below the 40 mark further confirms weakening momentum and a tilt towards bearish bias.

Going ahead, the zone of 24730–24700 levels will act as important support for the index. A decisive break down below 24700 may open the doors for a deeper correction, with the next downside level seen near 24550, where intermediate support is placed.

On the upside, the 24950–25000 zone will act as a stiff resistance, as it aligns with the psychological 25000 mark as well as short term supply levels. Any sustained move above 25000 will be essential for the index to regain bullish momentum and attempt a recovery after the recent sell off

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