Oil-Sensitive Stocks Plunge as Crude Jumps Above $78 on US-Iran Tensions

ndian equity benchmarks crashed nearly 2% on Monday amid soaring crude oil prices triggered by escalating US-Iran conflict. Brent crude surged up to 13%, briefly touching $80/barrel — the highest since January — after reports of US/Israeli strikes on Iran and threats to close the Strait of Hormuz. WTI climbed over 8% above $72. The Sensex tumbled 1,836 points (2.26%) to 79,451, while the Nifty shed 564 points (2.24%) to 24,615. Volatility (India VIX) spiked 27%. Hardest hit sectors: Paints & related:

Paints fell sharply (>5% intraday) on fears of rising input costs (titanium dioxide, solvents). Tyres: re plunged up to 16% intraday (closed -5.6%), CEAT and Apollo Tyres also down 2–3%. Oil marketing companies: Indian Oil and peers under pressure due to potential margin squeeze. Aviation: IndiGo (-7%) and SpiceJet hit by higher ATF costs.