Indian Shares Slump Amid Middle East Concerns

Adding to investor anxiety, U.S. President Donald Trump announced a U.S. naval blockade on Iranian ports, sending Brent crude prices soaring above $103 a barrel.

The benchmark BSE Sensex was down 1,336 points, or 1.70 percent, at 76,213 in early trade while the broader NSE Nifty index plummeted 385 points, or 1.60 percent to 23,665.

Among the prominent decliners, Adani Ports, Bajaj Finance, Asian Paints, Larsen & Toubro, Maruti Suzuki India and IndiGo plunged 3-6 percent.

Mahindra & Mahindra fell over 2 percent despite reporting stronger production and sales figures for March 2026.

Adani Green Energy lost about 3 percent. The company has announced a partnership with EPointZero arm to develop renewable energy projects in India.

Swiggy declined 2.8 percent after its co-founder, Nandan Reddy, resigned from the board to focus on independent ventures.

General Insurance Corporation of India fell nearly 1 percent after announcing it has received a tax demand notice, involving a sum of Rs. 350.47 crore.

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