Sensex Plunges 1,200 Pts, Nifty Below 24,900 Amid US-Iran Tensions, Oil Surge
MMoneycontrol•02-03-2026, 09:27
Sensex Plunges 1,200 Pts, Nifty Below 24,900 Amid US-Iran Tensions, Oil Surge
- •Indian equity benchmarks Sensex and Nifty opened sharply lower, extending Friday’s sell-off due to escalating West Asia tensions and surging crude oil prices.
- •Sensex dropped 1,187 points (1.5%) to 80,100.2, while Nifty fell 341 points (1.4%) to 24,837, slipping below the crucial 25,000 mark.
- •Market breadth was negative with 2,551 shares declining against 363 advancing on NSE; India VIX jumped nearly 15% to 15.73.
- •Technical analysis shows Nifty broke below its 200-day SMA near 25,300, with next support at 24,500-24,350.
- •Oil-sensitive stocks like aviation, auto, and paint sectors were under pressure, while ONGC gained nearly 4% due to higher crude prices.
