Iran Israel US war: Stock markets slump over 2% as West Asia war enters 5th week; end FY26 with losses
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Equity benchmark indices Sensex and Nifty ended the last trading session of the 2025-26 fiscal year sharply lower on Monday (March 30, 2026) as the ongoing war in West Asia and surging crude oil prices kept investors’ sentiment fragile.
Weak trends in Asian markets and unabated foreign fund outflows also added to the bearish trend in domestic equities.
Also Read | Stock markets slump over 2% as West Asia war enters 5th week; end FY26 with losses
Declining for the second day in a row, the 30-share BSE Sensex tumbled 1,635.67 points or 2.22% to settle at 71,947.55. During the day, it plunged 1,809.09 points or 2.45% to 71,774.13.
The 50-share NSE Nifty slumped 488.20 points or 2.14% to end at 22,331.40.
From the 30-Sensex firms, Bajaj Finance, State Bank of India, InterGlobe Aviation, Bajaj Finserv, Axis Bank and Kotak Mahindra Bank were among the biggest laggards.
On the other hand, Tech Mahindra and Power Grid were the gainers.
Brent crude, the global oil benchmark, jumped 2.18% to $115.1 per barrel.
In the 2025-26 financial year, the BSE benchmark plunged 5,467.37 points, or 7%, and the Nifty dropped 1,187.95 points, or 5%.
In Asian markets, South Korea’s benchmark Kospi and Japan’s Nikkei 225 index plunged nearly 3%. Hong Kong’s Hang Seng index also settled lower, while Shanghai’s SSE Composite index ended in positive territory.
Markets in Europe were trading marginally higher.
“Indian equities extended their decline, with benchmark indices falling over 2 per cent, underscoring a deepening sell-off sentiment driven by persistent global uncertainties and rising crude oil prices,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,367.30 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth ₹3,566.15 crore.
Foreign investors have pulled out ₹1.14 lakh crore (about $12.3 billion) from domestic equities in March, making it the worst monthly outflow, weighed down by escalating tensions in West Asia, a weakening rupee and concerns over the impact of elevated crude oil prices on India’s growth.
On Friday, the Sensex tanked 1,690.23 points or 2.25% to settle at 73,583.22. The Nifty dropped 486.85 points or 2.09% to end at 22,819.60.
Published – March 30, 2026 04:32 pm IST
