Sensex, Nifty dive over 1% on West Asia conflict, boiling crude oil prices
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Stock market benchmark indices Sensex and Nifty tumbled over 1% on Friday (March 6, 2026) after a day’s breather as the conflict in the West Asia entered its seventh day, driving crude oil prices higher.
Weakness in the U.S. equities, subdued trend in European markets and relentless foreign fund outflows also dampened sentiments.
The 30-share BSE Sensex tumbled 1,097 points, or 1.37%, to settle at 78,918.90. During the day, it sank 1,203.72 points, or 1.50%, to 78,812.18.
The 50-share NSE Nifty dropped 315.45 points, or 1.27%, to end at 24,450.45.
From the Sensex pack, Eternal, ICICI Bank, Axis Bank, UltraTech Cement, HDFC Bank, State Bank of India, Bajaj Finserv, and Larsen & Toubro were among the major laggards.
Bharat Electronics, Reliance Industries, Sun Pharma, NTPC, Infosys, and HCL Tech were the gainers.
Brent crude, the global oil benchmark, jumped 2.53% to $87.57 per barrel.
“Indian equity markets extended their decline following the prior session’s relief rally, as escalating U.S.-Iran tensions disrupted key West Asian oil and gas supplies, driving crude prices higher. A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory, and the RBI’s monetary stance,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended higher.
Markets in Europe were trading in negative territory.
The U.S. market ended lower on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,752.52 crore on Thursday (March 5, 2026), while Domestic Institutional Investors (DIIs) bought stocks worth ₹5,153.37 crore, according to exchange data.
On Thursday (March 5, 2026), the Sensex rebounded 899.71 points, or 1.14%, to settle at 80,015.90, snapping its four-day decline. The Nifty climbed 285.40 points, or 1.17%, to end at 24,765.90, ending its three-day falling streak.
Published – March 06, 2026 04:24 pm IST
