- By Aditya Pratap Singh
- Thu, 12 Mar 2026 09:44 AM (IST)
- Source:JND
Stock Market Today: The Key domestic equity indices--Sensex and Nifty--crashed over 1 per cent just after they started the session sharply lower due to a sudden uptick in crude prices amid escalating uncertainties in the Middle East. BSE Sensex started the session with a huge gap-down at 76,369.65 as compared to the last session's closing of 76,863.71. Similarly, NSE Nifty50 tanked 192 points to open at 23,674.85 against last day's closing of 23,866.85. The indices extended the losing momentum further with Sensex plunging over 900 points to hit a low at 75,871.18 in early trade, while Nifty50 dragged below 23,600.
At the time of writing, Sensex was trading at 76,071.22, down 792.49 points or 1.03 per cent, while 23,601.10, down 265.75 points or 1.11 per cent.
"External headwinds have pushed the market into a weak zone. With the war continuing to rage with no signs of let-up and Brent crude again bouncing back to $100 levels, the weakness is likely to persist. Even though DIIs are continuously buying in the market, DII buying is not helping the market to recover since FIIs are sustained sellers and show no signs of reversing their strategy in this uncertain global environment," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Top Gainers and Losers
Except for Bharti Airtel, Tech Mahindra, Reliance and Power Grid, all other stocks from the Sensex basket were trading in red with Eternal, Mahindra And Mahindra, Trent, Maruti, Indigo, ICICI Bank, Titan, Kotak Bank, Axis Bank, Bajaj Finance, and Tata Steel being the top laggards. Major sectoral and broader indices plummeted in early trade as well amid persistence broad based selling
Brent Crude Reclaims $100 Threshold
The Brent Crude reclaimed the $100 per barrel threshold again, surging over 8 per cent in early trade. Earlier, Brent price surged nearly $120; however, it tanked to the $80 level the next day. The volatility in crude prices has been seen due to increasing oil supply uncertainty amid supply disruption in the Gulf region. The Strait of Hormuz, the key trading route in the Persian Gulf, is closed for several days amid the ongoing war in the Middle East.
"Indian equity markets opened with a sharp gap-down, reflecting heightened global uncertainty and rising risk aversion among investors. The immediate trigger behind the decline is the sharp surge in crude oil prices, with Brent crude approaching the $100 per barrel mark following escalating geopolitical tensions involving the U.S., Israel, and Iran in West Asia. For India, this development is particularly sensitive as the country imports more than 85% of its crude oil requirement," said Ponmudi R, CEO of Enrich Money.