Rising geopolitical tensions from the ongoing US-Iran conflict including threats around the Strait of Hormuz and President Trump's -hour ultimatum triggered a sharp risk-off sentiment that caused the Indian stock market to plunge over 1,550 points on March 23 2026.

CURRENT STATE

The BSE Sensex dropped to around 72,977 and the Nifty 50 fell to about 22,634 erasing nearly ₹8-9 lakh crore in market capitalization within minutes. The Indian rupee weakened to a record low of 93.8925 against the US dollar while Brent crude oil prices hovered near $107 per barrel further intensifying investor fears. Asian markets also declined sharply reflecting a broad regional risk aversion.

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