Stock Market Today: Equity Indices Settle Sharply Lower; Sensex Falls 1,048 Points, Nifty Closes Below 24,870

This is the end of the live blog for the stock market updates on March 2. 

Thank You. 

Except for Nifty Metal and Nifty Pharma, all other key sectoral indices settled in negative territory. Nifty Auto, Nifty Financial Services, Nifty Media, and Nifty Realty dragged the most. 

Brent crude surged roughly 6–10 per cent on mounting concerns over potential supply disruptions through the Strait of Hormuz, a vital artery for global energy flows.

"The early gap-down reflected heightened risk aversion, as investors moved to recalibrate exposure amid rising geopolitical uncertainty and inflation risks. However, as the session progressed, selective value buying emerged at lower levels, enabling benchmark indices to trim a portion of their intraday losses. While the recovery lent some stability to the close, the broader tone remained cautious, with sentiment still anchored to developments in energy markets and geopolitical headlines," said Ponmudi R, CEO of Enrich Money. 

The broader market plummeted amid selling pressure. The majority of broader indices closed up to 1.5 per cent lower.   

Except for BEL, SunPharma and ITC, all other stocks from the Sensex basket settled lower. Indigo, Adani Ports, L&T, Maruti Suzuki, Asian Paints, and Bajaj FinServ were the top losers. 

The domestic equity indices closed the session with a huge decline after having a highly volatile trade. 

Commodity prices soared significantly amid the US-Israel joint attack on Iran, and a retaliatory attack by Iran on Israel and US bases in the UAE. Gold, Silver, Crude Oil, Cooper, Zinc prices rallied up to 9% on MCX.  The Silver futures contract climbed near Rs 3,00,000 per kilogram mark. 

Nifty derivatives plummeted amid a massive sell-off due to onging war in Iran-Us and Israel. 

Sensex and Nifty were trading up to 2 per cent lower in the mid-day session amid broad-based selling. The investors turned panicked amid escalating tension in middle east.  The US and Israel have increased their attacks on Iran, while Iran has been retaliating.  

The equity indices-- Sensex and Nifty--extended the loss further amid selling pressure.  

"Indian equity markets opened sharply lower, reflecting a pronounced risk-off shift as escalating U.S.–Iran military confrontations widened into a broader regional conflict, propelling crude oil prices higher. The surge in energy costs has swiftly unsettled investor sentiment, rekindling concerns over inflationary pressures, external imbalances and renewed policy uncertainty. Volatility gauges reflect the unease," said Ponmudi R, CEO of Enrich Money.  

Gold and Silver price soars significantly in iternational market with both Gold and Silver contract were trading high. 

The shares of oil and gas companies are in focus today. 

Except for Nifty Metal, all major sectoral indices plunged in early trade. Nifty Media, Nifty Auto, and Nifty PSU Bank top losers. 

The broader market reacted sharply as all the broader indices were trading significantly lower. 

Except for BEL, all the stocks from the Sensex basket were trading lower, with Indigo, Asian Paints, Adani Ports, Eternal, Ultratech Cement, Trent and Reliance being the top losers.  

As expected, gold and silver prices surged significantly due to the war crisis in middle east. In the early trade gold and silver prices on MCX were up over three per cent. 

The domestic equity indices open sharply lower on Monday. 

The equity indices would open lower this week on Monday amid the war situation in the Middle East.   

"Indian equity markets are poised to open on a cautious note following the recent corrective spell, with sentiment remaining fragile as the U.S.–Iran confrontation deepens and begins to reverberate across the broader Middle East. Crude oil prices have firmed amid escalating hostilities, while shipping activity through Iranian waters and the Strait of Hormuz has reportedly slowed due to heightened security risks. Given that the corridor accounts for nearly a fifth of global oil flows, even temporary disruptions and rising war-risk premiums could delay trade movements across Asia, including key importers such as India and China. For investors, the concern is less about immediate shortages and more about duration risk—how long elevated freight, insurance and energy costs persist," said Ponmudi R, CEO of Enrich Money.