Indian benchmark indices fell sharply, with the Sensex dropping over 1,850 points and the Nifty slipping below 23,800 amid broad-based selling.

During mid-morning trade, domestic equities remained under significant stress as investors adopted a cautious stance toward the economic outlook following a sharp surge in crude oil prices triggered by escalating tensions between the United States and Iran. The Nifty 50 has now dropped more than 10% from its all-time high of 26,373, recorded on January 5, officially placing the index in a technical correction phase. The Nifty 50 declined 610.65 points (2.48%) to 23,837.65, while the BSE Sensex tumbled 1,853.27 points (2.35%) to 77,065.63. At the same time, India VIX, commonly referred to as the market’s fear gauge, jumped nearly 22% to 24.24 at 10:29 AM, signaling increased investor nervousness amid intensifying geopolitical risks and turbulent global markets. Within the Nifty 50 pack,

, m Finance, and & Toubro were among the largest decliners. The broader market also followed the negative trend seen in benchmark indices. The Nifty Midcap 100 and Nifty Smallcap 100 dropped 2.54% and 2.51%, respectively. On the sectoral front, the Nifty PSU Bank Index emerged as the worst performer, sliding over 4% in early trade. The Nifty Bank Index and Nifty Financial Services Index also traded in negative territory. Oil prices surged sharply as the escalating US–Iran conflict raised concerns about tightening global supply and potential disruptions in shipping routes through the Strait of Hormuz. Crude prices climbed to their highest levels since July 2022. The global benchmark Brent Crude soared 19.81% to $111.05 per barrel, while West Texas Intermediate (WTI) crude futures advanced 22.26% to $111.13 per barrel. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.