Stock market indices tumble over 1,400 points in early trade on weak global cues

MUMBAI: The Indian stock market indices witnessed a sharp decline of over 1,400 points during early trade on Monday, March 23, as the escalating conflict between Israel and Iran rattled investor sentiment globally.

The BSE Sensex crashed by 1,452.61 points to trade at the 73,080.35 level. Similarly, the NSE Nifty plunged by 412.40 points, falling to the 22,702.10 mark.

Market analysts attribute this volatility to weak global cues and the ongoing geopolitical tensions in the Middle East, which have raised concerns over energy security and global supply chains.

Among the major laggards were shares of Hind Zinc, Tata Steel, Jaiprakash Power, and Hindustan Copper Limited. Other notable losers included Petronet LNG Limited, MMTC Limited, and Rajesh Exports Limited.

Conversely, a few stocks managed to trade in the green despite the broader sell-off, including GACM Technologies Limited, DSJ Keep Learning Limited, Gujarat Alkalies & Chemicals Limited, Aditya Birla Sun Life, and Oil & Natural Gas Corporation (ONGC) Limited.