Market crashes over war tensions; Sensex plunges 1,953 points, Nifty drops below 23,200

March 19, 2026

Markets opened with a sharp decline on Thursday amid tensions in West Asia. In the pre-opening session, the Sensex tumbled by nearly 2,000 points. In early trading, the 30-share BSE Sensex plunged 1,953.21 points, or 2.54 percent, to trade at 74,750.92. Meanwhile, the 50-share NSE Nifty dropped 580.05 points, or 2.43 percent, to 23,197.75.

Performance of Sensex Companies
Among the 30 Sensex companies, shares of HDFC Bank fell by over 3 percent after Atanu Chakraborty abruptly resigned as the Chairman of the country’s second-largest lender, citing ethical concerns. Larsen & Toubro, Axis Bank, Mahindra & Mahindra, Eicher Motors, and Bajaj Finance were also among the top laggards. NTPC and Power Grid were the only companies to post gains.

War Heightens Global Market Concerns
Amidst the ongoing conflict in West Asia, attacks on energy infrastructure have heightened concerns across global markets. An attack on a major gas-producing region in Iran, coupled with the targeting of the world’s largest LNG production facility located in Qatar, has deepened fears regarding the potential impact on energy supplies.

Speaking to ANI, banking and market expert Ajay Bagga stated that these events have pushed tensions in the Gulf region to an extremely dangerous juncture. According to him, this has increased the risk of disruptions to global energy supplies—an impact that could become clearly visible in inflation trends and market movements.

Fed Keeps Interest Rates Unchanged
Meanwhile, the US Federal Reserve has kept interest rates unchanged. During a press conference, Fed Chair Jerome Powell—who repeatedly used the word “uncertainty”—indicated that inflationary pressures could intensify due to tariffs and the energy crisis. His stance is being perceived as relatively hawkish.

According to Ajay Bagga, the Indian stock markets are also likely to open under pressure, reflecting the negative signals emanating from global markets. An atmosphere of caution currently prevails among investors.

Decline Witnessed in Asian Markets
The impact of the global downturn was evident in Asian markets during early trading. Japan’s Nikkei 225 index fell 2.18 percent to the level of 53,787; Singapore’s Straits Times index dropped 0.47 percent to 4,978; Hong Kong’s Hang Seng index declined 1.68 percent to 25,587; Taiwan’s Weighted Index fell 1.17 percent to 33,946; and South Korea’s KOSPI index dropped 1.55 percent to 5,836.

A negative trend had been visible in US markets since Wednesday night. On Wednesday, the Dow Jones Index fell 1.63 percent to 46,225; the S&P 500 dropped 1.36 percent to 6,624; and the Nasdaq declined 1.46 percent to 22,152—signaling widespread selling pressure across global equity markets.