D-Street Bloodbath: Sensex Crashes 2,300 Pts, Nifty Plunges 700 Pts As Crude Hits 52-Week High On US-Iran War

Dalal Street witnessed a sharp sell-off during Monday's opening session, with the benchmark indices - BSE Sensex and Nifty 50 - plunging nearly 3% as escalating tensions between the United States and Iran entered the second week. The Sensex tumbled around 2,345 points, while the Nifty 50 slipped close to 704 points amid a sharp surge in crude oil prices to a 52-week high.

Nifty 50 was down close to 700 points and plunged below the 24,000 mark for the first time since May 2025. The massive crash in Indian stock market today coincided with bearish sentiment prevailing across the Asian stock market indices.

Crude Oil Prices Jump To Record High

Crude oil prices jump beyond $110 a barrel as the conflict in West Asia deepens, disrupting key shipping lanes and shaking global financial markets, with Wall Street futures sliding and Asian and Indian indicators signalling sharp losses linked to the surge in energy costs.

Indian Rupee Hits Record Low

The Indian stock market crash also coincided with a massive decline in the Indian Rupee. The Indian currency slipped to its all-time low on Monday as an unyielding surge in oil prices weakened Asian currencies across the board. The Indian Rupee fell around 0.6% to 92.3350, against its all-time low of 92.3025 hit last week.

The domestic currency remained under pressure since the US-Israeli air strikes began on Iran last week. The air strike has rattled markets worldwide and drove the oil prices higher.

US-Iran War Enters 2nd Week

The rise in crude oil prices follows continued military action by the United States and Israel against Iran. The war in the Middle East entered the second week raising tensions of a wider conflict in the region, and movement through the Strait of Hormuz stays severely restricted because Iranian forces attack vessels attempting passage. Meanwhile, United States President Donald Trump said that the current oil levels are a small price to pay during the confrontation with Iran.

Over the same weekend, Saudi Arabia, Kuwait and the UAE also report Iranian drone strikes, with officials noting different levels of damage across sites, adding further uncertainty for regional oil supplies and strengthening the link between the security situation and elevated crude oil prices.

Global Stock Market Rattles Amid US-Iran War

Financial markets react quickly as Wall Street futures fall alongside rising crude oil prices, with Dow futures sliding almost 1,000 points, S&P 500 futures losing over 1.5 percent and Nasdaq futures dropping nearly 2 percent, while major Asian indices record declines of up to 8 percent.