Sensex Drops to Near 2-Year Low

2026-03-23 11:40 By Luisa Carvalho 1 min. read

India’s BSE Sensex closed about 2.5% down at 72,696.4 on Monday, the lowest since May 2024, as escalating tensions in the Middle East over the weekend added fresh uncertainty to the economic outlook.

US President Donald Trump issued a 48-hour ultimatum on Saturday, warning that Washington could strike key Iranian power and energy infrastructure if Tehran did not fully reopen the strategic Strait of Hormuz to maritime traffic.

In response, Iranian authorities vowed that the strait would be “completely closed” to shipping and threatened retaliation against critical infrastructure.

The sell-off was widespread, with all sectoral indices closing in the red.

Sectors such as consumer durables, realty, oil & gas, and chemicals declined in the range of 3–6%.

Financials and metal stocks also posted sharp losses, between 2%-5%.

Among equities, Titan was the worst performer, falling 6.2%, followed by Trent (-5.9%), Ultra Tech Cement (-5.2%), BEL (-4.9%), IndiGo (-4.9%) and Tata Steel (-4.8%).



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