The Indian stock market witnessed a strong selloff in morning trade on Monday, March 2, as escalating tensions in West Asia, or the Middle East, dealt a blow to already cautious market sentiment amid foreign capital outflows, geopolitical uncertainties, and unimpressive earnings. The Sensex opened 2743, or 3.34% lower at 78,543.73, but pared losses quickly. It traded 830 points, or 1.02%, down at 80,457 around 10 am. The NSE counterpart, the Nifty 50, crashed over 500 points, or more than 2%, to hit an intraday low of 24,645, but pared losses swiftly, trading 262 points, or 1.04% lower at 24,917 around 10 am. Investors lost more than ₹8 lakh crore within the first few minutes of Monday's session as the overall market capitalisation of BSE-listed firms dropped to ₹455 lakh crore from ₹463.50 lakh crore in the previous session.

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