Indian stocks plunged 2%+ on March 23, 2026, amid Middle East tensions, oil spikes, and foreign sell-offs.

Indian stock markets crashed on March 23, 2026, with the Sensex and Nifty 50 falling over 2%, driven by escalating geopolitical tensions in West Asia, particularly a U.S.-Iran standoff over the Strait of Hormuz. Rising crude oil prices, a record-low rupee, and persistent foreign investor outflows intensified sell-offs across banking, metal, and real estate sectors, while IT stocks offered limited resilience. Global markets declined, fueling risk aversion, and market capitalization dropped by over ₹10 lakh crore.