Sensex, Nifty tumble nearly 2%; European mrkt decline
All the sectoral indices on the NSE were traded in red while auto, realty and oil & gas stocks emerging top laggards.
At 13:25 IST, the barometer index, the S&P BSE Sensex tanked 1595.65 points or 1.97% to 79,690.25. The Nifty 50 index tumbled 497.10 points or 1.97% to 24,680.20.
The broader market underperformed the frontline indices. The BSE 150 MidCap Index slumped 2.24% and the BSE 250 SmallCap Index tumbled 2.70%.
The market breadth was weak. On the BSE, 579 shares rose and 3,651 shares fell. A total of 183 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, sizzled 24.11% to 17.01.
Gainers & Losers:
Bharat Electronics Limited (BEL) (up 1.01%), Oil and Natural Gas Corporation of India (ONGC) (up 0.80%), Sun Pharmaceutical Industries (up 0.63%), Bharti Airtel (up 0.16%) and Hindalco Industries (up 0.10%) were the major Nifty50 gainers.
Larsen & Toubro (down 6.67%), Indigo Paints (down 5.90%), Adani Ports and Special Economic Zone (APSEZ) (down 5.52%), Jio Financial Services (down 4.13%) and Asian Paints (down 3.71%) were the major Nifty50 losers.
Stocks in Spotlight:
KVS Castings rallied 6.43% after the company announced the commencement of commercial operations at its new manufacturing facility, Unit-2, from 2 March 2026.
Zydus Lifesciences fell 2.46%. The company has received final approval from the United States Food and Drug Administration (USFDA) for Ivermectin Tablets USP, 3 mg, and Dapsone Tablets USP, 25 mg and 100 mg.
Bharat Coking Coal (BCCL) dropped 3.36% after the company?s coking coal production fell 1.6% to 3.26 million tonnes in February 2026 compared with 3.31 million tonnes in February 2025.
Paras Defence and Space Technologies rallied 8.65% after the company announced the incorporation of a new subsidiary, Paras Semiconductors.
Monthly Auto Sales:
Hyundai Motor India fell 1.44%. The company has recorded total sales of 66,134 units in February 2026, thereby registering a year-on-year growth of 12.6%. While domestic sales rose by 9.8% YoY to 52,407 units, exports increased by 24.8% to 13,727 units in February 2026.
Tata Motors Passenger Vehicles slipped 3.55%. The company has recorded total sales of 63,331 units in February 2026, registering a robust 35% YoY growth over 46,811 units in sold February 2025. Total electric vehicle (EV) sales rose 57% to 8,385 units in February 2026 from 5,343 units in the corresponding month last year, significantly outpacing the 35% growth recorded in overall passenger vehicle (PV) volumes.
Eicher Motors dropped 2.92%. The company?s unlisted subsidiary, VE Commercial Vehicles (VECV), reported a 23.4% year-on-year jump in commercial vehicle (CV) sales to 9,986 units in February 2026.
Ashok Leyland slumped 1.61%. The company reported a 24% jump in total sales (domestic & exports) to 22,157 units in February 2026, compared with 17,903 units sold in February 2025.
Bajaj Auto fell 2.96%. The company reported 27% increase in total auto sales for February 2026, selling 4.48 lakh units as against 3.52 lakh units sold in February 2025.
Escorts Kubota tumbled 4.04%. The company?s agri-machinery business division sales grew by 20.4% to 10,339 units in February 2026 as against 8,590 units sold in February 2025.
TVS Motor Company shed 2.24%. The company registered sales of 529,308 units in February 2026, which is 31% higher as compared with the 403,976 units sold in February 2025.
Hero MotoCorp declined 3.14%. The company has recorded a 44% year-on-year (YoY) rise in total two-wheeler dispatches in February 2026, selling 558,216 units during the month as compared with 388,068 units in February 2025.
US-IRAN Conflict:
The United States and Israel have launched major coordinated military strikes on Iran, marking a significant escalation in long-running Middle East tensions. On 1 March 2026, Iran launches missile and drone strikes on U.S. bases across six Middle Eastern countries amid escalating military tensions.
Iran?s Supreme Leader Ayatollah Ali Khamenei was reportedly killed in the attacks, escalating tensions further. Iran named Ayatollah Alireza Arafi to its interim leadership council, which will be at the helm of the country following the killing of supreme leader Ayatollah Ali Khamenei, on Sunday.
Global Markets:
European and Asian markets traded lower on Monday after the United States and Israel launch their most ambitious attacks on Iran in decades, killing Supreme Leader Ayatollah Ali Khamenei.
U.S. and Israeli strikes, and the Iranian retaliation, have sent shockwaves across the Middle East and through sectors from shipping to air travel to oil on warnings of rising energy costs and disruption to business in the Gulf, a strategic waterway and global trade hub.
Most Gulf equities fell on Sunday, though Boursa Kuwait suspended trading and the UAE ordered its stock markets closed on Monday, a sign of the growing economic disruption sweeping the Gulf.
Oil futures initially jumped 8% before trimming gains to about 4%. West Texas Intermediate futures last traded at $69.68, while Brent crude was at $76.13 per barrel. Gold futures jumped 2.3% as investors piled into the global safe haven.
Stock futures tumbled in overnight trading after the weekend strikes in Iran. Futures on the Dow Jones Industrial Average dropped 517 points, or 1%. S&P 500 futures lost 1%, and Nasdaq 100 futures declined a little more than 1%.
On Friday, stocks saw a sharp sell-off after the latest producer price index data came in much hotter than expected, adding sticky inflation to a list of concerns that has caused market turbulence this month.
The Dow Jones Industrial Average dropped 521.28 points, or 1.05%, to close at 48,977.92. The S&P 500 closed down 0.43% at 6,878.88, while the Nasdaq Composite lost 0.92% to settle at 22,668.21.
The S&P 500 and Nasdaq finished in the red for February amid growing fears about the impact of artificial intelligence on specific industries and the overall economy.
Fueling the downbeat sentiment, January?s producer price index, a measure of wholesale inflation, showed a 0.5% increase for the month. Media reports had suggested that the headline reading could come in at 0.3%. The core PPI reading, which excludes food and energy prices, recorded a 0.8% gain, much more than the 0.3% rise that was widely reported in the media.
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