Stock Market Plunges Amid Iran War Fears, Sensex Crashes 2,496 Points in 22-Month Worst Fall
Market
Stock markets witnessed a sharp crash due to global tensions, wiping out ₹12 lakh crore of investor wealth, while crude oil and fertiliser prices surged amid ongoing geopolitical conflict
Mumbai | 20 March, 2026: Indian equity markets faced a massive sell-off on Thursday, marking the steepest decline in the last 22 months, as escalating tensions linked to the Iran conflict rattled global sentiment. The BSE Sensex plunged 2,496 points, while the Nifty 50 dropped 775 points, triggering widespread panic among investors.
The sharp fall resulted in an estimated loss of nearly ₹12 lakh crore in investor wealth. During intraday trade, the Sensex slipped over 2,700 points to hit a low of 73,950, reflecting the intensity of the sell-off.
The downturn has been largely attributed to rising geopolitical risks, particularly attacks on oil refineries amid the ongoing conflict, which have disrupted global supply chains. Crude oil prices surged to $116 per barrel, raising concerns over inflation and economic stability.
The impact has extended beyond equities, with fertiliser prices also witnessing a sharp spike. Urea prices have reportedly jumped from $425 to $600 per tonne, increasing cost pressures on the agriculture sector and worrying farmers.Interestingly, precious metals saw a contrasting trend. Gold prices fell by ₹3,242 per 10 grams, while silver prices dropped sharply by over ₹13,000 per kilogram, according to industry data.
Market experts believe continued volatility is likely in the near term as global uncertainties persist. Investors are advised to remain cautious, as geopolitical developments and commodity price fluctuations continue to influence market movements.
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