India Stocks: Indian shares fall as oil-led selling grips Asian markets

Tata Power

23/03/2026 03:46

Updates for markets open

March 23 (Reuters) - Indian equities fell at market open on Monday, mirroring a broad risk-off move across Asia as an escalating Middle East conflict kept oil prices elevated and deepened concerns over growth and earnings outlook.

The Nifty 50 .NSEI was down 1.26% to 22,824.35, while the BSE Sensex .BSESN lost 1.07% to 73,732.58, as of 9:15 a.m. IST.

All 16 major sectors declined. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 fell 1% each.

The selloff reflects a rapid increase in risk aversion. Asian markets .MIAPJ0000PUS fell 3.1% as tensions in the Middle East intensified, undermining hopes of a near-term de-escalation in the U.S.-Israeli conflict with Iran, now in its fourth week.

Brent crude hovering near $113 a barrel poses a particular challenge for India, one of the world's largest oil importers. Persistently high oil prices fuel inflation, widen external imbalances, weaken the rupee, and extend foreign capital outflows.O/R

HDFC Bank HDBK.NS, India's largest private lender and the heaviest-weighted stock on the benchmarks, fell 2.2% after sliding 7.4% during two sessions following the resignation of part-time chairman Atanu Chakraborty over differences related to "values and ethics."

 (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sherry Jacob-Phillips and Mrigank Dhaniwala)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))