Investors continue selling stocks as crude gets dearer; Sensex, Nifty tumble over 2%
The 30-share BSE Sensex crashed 1,758.22 points or 2.19% to 78,480.63 in early trade as the conflict continued to dent investors’ sentiment. File photo for representation purposes only.
| Photo Credit: The Hindu
Both Nifty 50 and Sensex 30 gained from their open on Wednesday (March 4, 2026), and are trading at 24,452.10, and 78,952.39 points respectively
The 50-share NSE Nifty opened 24,388 points, while 30-share BSE Sensex opened at 78,528.82 points.
As experts warned, the West Asia crisis entered Indian markets through the oil price channel. Brent crude futures crossed $82.65 a barrel after touching $80 on Tuesday (March 3, 2026).
Although the oil futures increased over 4% on March 3, Indian investors are reacting to it on Wednesday (March 4) as the markets were closed for Holi.
Further the Indian rupee also continued depreciating touching ₹92.3 a dollar as of 11.15 a.m., which is 0.27% more than the previous session’s close.
“The recovery attempts that may be expected post downside-gapped opening today need to sustain Nifty above 24500, In order to discourage bears from regrouping. Else, expect 24000-23550. Do account for wild swings, given the spike in VIX on Monday (March 2) to the highest level since June 2025,” said Anand James, Chief Market Strategist, Geojit Investments Limited.
Published – March 04, 2026 10:31 am IST
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