Mumbai, March 23: The Indian stock market is experiencing a significant downturn during Monday’s trading session. At 12:37 PM, the Sensex fell by 1,772 points, or 2.32%, reaching 72,803, while the Nifty dropped by 565 points, or 2.44%, to 22,549.
A widespread decline is evident across the market. The Nifty Midcap 100 index fell by 2,074 points, or 3.78%, to 52,789, and the Nifty Smallcap 100 index decreased by 648.70 points, or 4.12%, to 15,070.
Almost all indices are in the red, with consumer durables and metal sectors being the top losers.
The primary reason for the market’s decline is the escalating tensions between the United States, Israel, and Iran. Over the weekend, tensions heightened when U.S. President Donald Trump issued a 48-hour ultimatum to Iran to reopen the Strait of Hormuz, warning of severe retaliation targeting critical energy infrastructure. In response, Tehran threatened to attack key regional assets and completely close the Strait of Hormuz.
This conflict has now entered its fourth week, with no signs of resolution, causing investors to become increasingly cautious.
Negative signals from international markets have also contributed to the bearish sentiment in India. Markets in Tokyo, Seoul, Hong Kong, Shanghai, and Bangkok experienced declines ranging from 2% to 6.5%.
Rising crude oil prices have further dampened market sentiment. As of the time of writing, Brent crude was up 0.84% at $113 per barrel, while WTI crude rose by 2.15% to $100 per barrel.
Additionally, selling pressure from foreign institutional investors (FIIs) has weighed heavily on the market. In the last trading session (Friday), FIIs withdrew ₹5,518.39 crore from equities, while domestic institutional investors (DIIs) invested ₹5,706.23 crore.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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