Indian Stock Markets Plunge Amid Escalating Iran-US Tensions and Oil Price Surge Indian stock markets faced a sharp decline for the third consecutive session on April 24, 2026, as the Sensex and Nifty 50 indices fell over 1% each. The downturn was driven by escalating tensions between Iran and the United States, a surge in oil prices, a weakening rupee, and poor earnings from major IT firms like Infosys. Broader markets and IT stocks led the decline, with Nifty Midcap 100 and Nifty Smallcap 100 indices also dropping around 1%. The Indian VIX, a measure of market volatility, spiked over 6% to 19.72, reflecting heightened investor anxiety. The Sensex dropped 999 points to 76,664, while the Nifty 50 declined 275 points to 23,897. Broader markets initially opened in the green but quickly reversed, slipping into the red. IT stocks, including Infosys, HCLTech, Tech Mahindra, and TCS, were among the top losers, falling 4-7% after Infosys’ Q4 earnings failed to meet expectations. Other major losers included Sun Pharma, Asian Paints, ICICI Bank, and Hindustan Unilever, which declined 2-4%. Conversely, Trent, Bajaj Finance, and SBI shares saw marginal gains. Sectorally, Nifty IT fell over 5% to become the top sectoral loser on the NSE, followed by Nifty Media and Nifty Pharma. Around 2,429 stocks declined, while 863 advanced and 104 remained unchanged. Analysts attributed the market slump to a combination of geopolitical and economic factors. Escalating Iran-US tensions played a significant role. Despite hopes of easing tensions through negotiations, concerns over the Strait of Hormuz remained. The US continued to blockade the waterway, while Iran used small, fast boats to seize two container ships, raising doubts about the effectiveness of Trump’s claims to have neutralized Tehran’s naval threats.#us #iran #infosys #hcltech #techmahindra
