- By Aditya Pratap Singh
- Fri, 27 Mar 2026 09:39 AM (IST)
- Source:JND
Stock Market Today: The domestic equity indices reacted sharply to the spike in crude oil prices amid the heightening geopolitical situation in the Middle East. In early trade, BSE Sensex was down 925 points or 1.23 per cent to 74,347.63, while Nifty50 was quoted at 23,059.05, down 247.40 points or 1.06 per cent.
The decline came after the stock market had a massive rally in the past two sessions, after some signs of ease in the war situation in West Asia. However, the situation flipped after Iran refused US President Donald Trump's claim of any ongoing negotiation to fully open the Strait of Hormuz.
At the time of writing, Brent crude was trading at a level of $107.2, up significantly from the $102-$104 level earlier this week. WTI Crude was quoted at $93.62 per barrel.
"The Indian equity market has opened on a weak footing with a clear gap-down, reflecting the impact of escalating geopolitical tensions surrounding the US–Iran conflict. The possibility of a prolonged conflict continues to dominate market sentiment, keeping the environment highly event-driven and reactive to global developments, thereby limiting investor confidence," said Ponmudi R, CEO of Enrich Money.
Top Losers And Gainers
Bajaj Finance, Indigo, Reliance, L&T, Mahindra and Mahindra, HDFC Bank, Eternal, Bajaj FinServ, Maruti, Kotak Bank, Adani Ports, SBI, BEL, Hindustan Unilever And Axis Bank were top losers from the Sensex basket. TCS, Sun Pharma, HCL Tech, and Bharti Airtel were the top gainers.
"The on and off reaction of the market to news and events regarding the war is likely to continue in the near-term. The spike in Brent crude back to around the $108 level will again trigger another round of risk-off in the Indian market," said Dr VK Vijayakumar, Chief Investment Strategist.