US-Iran tensions: BSE, MCX, other capital market stocks fall up to 4% as Sensex crashes 2,500 pts in two days

Nifty capital market shares see profit booking in trade.

• BSE, MCX, and Angel One shares fell up to 4 percent.
• Sensex and Nifty hit multi-month lows amid West Asia tensions.
• Crude prices and conflict spark concerns for Indian markets.

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Shares of capital market-linked firms BSE, Multi Commodity Exchange (MCX) and Angel One fell up to 4 percent on Wednesday as benchmark indices extended losses amid escalating tensions between the US and Iran.

The Sensex plunged 1,700 points, or 2.24 percent, to hit an 11-month low of 78,443.2. The broader Nifty dropped 2.25 percent to a 10-month low of 24,305.4, tracking a weak global trend as rising hostilities in West Asia pushed crude oil prices higher.

Within the Nifty Capital Market index, BSE was among the top laggards, declining up to 4 percent. It was followed by Multi Commodity Exchange of India and Central Depository Services (India), which fell 2.3 percent and 2.93 percent, respectively.

All 15 constituents of the Nifty Capital Market index were trading in the red as the conflict in West Asia entered its fifth day, weighing on investor sentiment.

"With the war escalating and crude oil rising, markets are entering a phase of heightened uncertainty. The duration of the conflict and the extent of the damage remain unclear. For India, which depends on imports for around 85 percent of its oil requirements, the key concern is the impact of higher crude prices on inflation and economic growth," VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said.

Iran carried out fresh strikes on several Gulf countries in retaliation for the joint attack by Israel and the US. The US and Israel also launched further strikes on Iran. The escalation has raised concerns over possible supply disruptions and higher crude oil prices.

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