Equity Alert
Nifty 50 March ends at premium of 97.50 points to spot index
This story was originally published at 15:48 IST on 4 March 2026
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Equity Alert: Nifty 50 March ends at premium of 97.50 points to spot index
MUMBAI--1536 IST--The March futures contract of the Nifty 50 closed at a premium of 97.50 points to the spot index Wednesday. Open interest in the contract fell 1.6% to 15.92 million, according to provisional data.
--Nifty 50 closed at 24480.50 points, down 385.20 points or 1.6% vs Monday
--Nifty 50 March closed at 24578.00 points, down 404.20 points or 1.6% vs Monday
Nifty 50 options, expiring Tuesday, with maximum change in open interest:
Call: 25000, Put: 24400
Nifty 50 options, expiring Tuesday, with maximum open interest:
Call: 26000, Put: 23100
(Anshul Choudhary)
Equity Alert: Sugar cos surge on hopes of higher ethanol blending norms
MUMBAI--1530 IST--Shares of sugar-making companies rose amid market talk about the possibility of the government introducing higher levels of ethanol blending due to rising crude oil prices. Crude oil prices have risen sharply due to the military conflict in West Asia, which has led to the shutdown of the Strait of Hormuz, a key chokepoint in global oil trade. Ethanol blending is the process of mixing ethanol, a biofuel derived from plant-based sources, with petrol.
Shares of Balrampur Chini Mills, Shree Renuka Sugars, and Dalmia Bharat Sugar and Industries ended 6–8% higher. Other sugar-producing majors such as Bajaj Hindusthan Sugar and Dwarikesh Sugar Industries rose 11% and 10%, respectively. Shares of these companies rose in an otherwise weak market, which saw the Nifty 50 and Sensex end lower by 1.5% and 1.4%, respectively.
India achieved the 10% target of ethanol blending in petrol in June 2022, much ahead of schedule, after which, the government brought forward the target for 20% blending to 2025 instead of 2030. Sugar-making companies will likely benefit if the government is compelled to raise the necessary ethanol blending levels further.
The primary reason for this decision could be the recent volatility in crude oil prices. The May futures contract of Brent Crude traded almost 3% higher at $83.78 per barrel on the Intercontinental Exchange. Over the past seven days, the value of the contract has risen almost 18%. (Eshitva Prakash)
Equity Alert: Some European indices rise after falling 3-4% on Tue
MUMBAI--1449 IST--Several European indices were slightly up Wednesday after falling around 3-4% on Tuesday as continuing hostilities between the US and Iran raised risks of higher energy costs for companies.
Selling in European markets eased, with software, healthcare and defence stocks posting gains. Indices in Germany, France, and Italy were up 0.2-4.0%. The UK's FTSE 100 index opened higher but soon lost the gains. At 1440 IST, the UK index was down 0.2%.
While some of the indices in the region were up, they continued to face selling pressure at higher levels amid risks of higher crude oil prices due to the West Asia conflict. The May futures contracts of Brent crude has gained over 20% since the US-Iran hostilities began last week. The Brent crude oil futures were trading at $84 per barrel on Wednesday.
Spain's IBEX 35 index was largely unchanged after US President Donald Trump threatened to end all trade with Spain as it did not allow US forces to use its bases to attack Iran.
Following were the levels of major European indices at 1446 IST:
| Index | Level | Change in % |
| FTSE 100 Index | 10476.60 | (-)0.07 |
| CAC 40 | 8125.73 | 0.27 |
| MIB INDEX | 444396.30 | (-)0.16 |
| DAX PERFORMANCE-INDEX | 23943.73 | 0.64 |
| SLI | 2131.14 | 0.42 |
(Anshul Choudhary)
Equity Alert: Indices in Asia end sharply lower; S Korea's Kospi tumbles 12%
MUMBAI--1405 IST--Equity indices in Asia extended losses from the morning and ended sharply lower on Wednesday. Markets fell as the US and Iran stepped up attacks, with Iranian missiles even hitting energy infrastructure across West Asia, raising concerns about disruptions in supply of oil.
South Korea's Kospi was the worst hit and te exchange had to pause trading twice. The index ended more than 12% lower, falling more than 19% in three sessions. Shares of shipping companies fell as Iran has closed the Strait of Hormuz and warned of attack on any ship that attempts to cross the strait.
A sharp jump in crude oil prices since hostilities between the US and Iran began last week has been the major reason behind the sell-off in equities across Asian markets, which import oil from West Asian countries. Brent crude oil May futures have risen by a dollar more since morning and, at 1400 IST, was at $83.58 per barrel, up nearly 3%.
Following are the levels of key Asian indices at 1405 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4602.62 | (-)1.14 |
| Hang Seng Index | 25249.48 | (-)2.01 |
| Nikkei 225 Day | 54245.54 | (-)3.61 |
| TOPIX FIRST SECTION | 3633.67 | (-)3.67 |
| KOSPI | 5093.54 | (-)12.06 |
| FTSE Singapore Strait Times | 4800.15 | (-)2.37 |
| S&P/ASX 200 Index | 8901.20 | (-)1.94 |
(Anshul Choudhary)
Equity Alert: Indices off lows slightly as select stocks erase losses
MUMBAI--1340 IST--The benchmark indices came slightly off the day's lows as select stocks recovered a little from their fall. The Nifty 50 was weighed down by the fall in Larsen & Toubro and heavyweight ICICI Bank, which were down 5% and 1%, respectively, having come off their day's lows. Shares of JSW Steel, Grasim Industries, and Adani Enterprises also came off their respective lows slightly. These stocks were down 2-4%.
At 1335 IST, the Nifty 50 was at 24428.25 points, down 437.45 points or 1.8%. The BSE Sensex was at 78903.79 points, down 1335.06 points or 1.7%. Only three constituents of the Nifty 50 were up. Coal India continued to be the top performer in the index, rising over 2%. Shares of Infosys and Bharti Airtel were up around 1?ch. Tata Steel was the worst-hit stock in the index, down nearly 7%. Shares of Tata Motors Passenger Vehicles and SBI Life Insurance Co. were down around 5%.
Financial services companies Shriram Finance, Jio Financial Services, Bajaj Finance, Bajaj Finserv, and HDFC Life Insurance Co. were down 3-4%. Automakers Mahindra & Mahindra, Maruti Suzuki India, Bajaj Auto, and Eicher Motors were down 2-3%.
In the Nifty 200 index, Solar Industries was the top gainer, up nearly 4%. Shares of Oil India and Swiggy rose nearly 3?ch. Steel Authority of India and Tata Steel were the worst-hit in the index, down nearly 7%. Sagility rose over 8% to be the top gainer in the Nifty 500. Shares of Balrampur Chini Mills rose over 6%..
Shares of Petronet LNG and Mahanagar Gas fell over 9% and 8%, respectively, to be the worst hit in the Nifty 500. The closure of the Strait of Hormuz has triggered fears of a disruption in supply of liquefied natural gas. Petronet LNG informed the exchanges that it has issued a force majeure notice to its partners in West Asia, including QatarEnergy, from where the company procures LNG under a contract.
Higher LNG prices would hurt city gas distributors GAIL (India), Indraprastha Gas, Adani Total Gas, and Gujarat Gas. These stocks were down 1-6%. A spike in LNG prices would also lead to higher input costs, potential supply cuts, and margin cuts for these companies. (Adhithya Aji)
Equity Alert: Paras Defence surges 12?ter MoU with South Korea's optics co
MUMBAI--1300 IST--Shares of Paras Defence and Space Technologies rose almost 12% to a three-month high of INR 749.85 on the NSE Wednesday after the company inked a memorandum of understanding with a South Korean optical systems company. At 1258 IST, shares of the company were off their intraday highs, but were still up 7%. This rise has helped increase the stock's seven-day gains to 13.3%.
Para Defence has signed an agreement with Green Optics Co., a South Korea-based company specialising in design and manufacturing of optics and optical systems, according to an exchange filing by the company. Products developed by Green Optics are used in space, defence, and other applications, according to the filing.
The two companies intend to establish a framework for joint development, manufacturing, business development in respective regions, of optics and optical systems for space and defence applications.
Brokerage Nirmal Bang has a 'buy' recommendation on Paras Defence with a target price of INR 820. (Eshitva Prakash)
Equity Alert: Petronet LNG down; co issues force majeure notice to QatarEnergy
MUMBAI--1245 IST--Shares of liquefied natural gas importer Petronet LNG fell as much as 12% intraday to an over one-month low of INR 271.75. The stock fell after the company issued a force majeure notice to partners, including QatarEnergy, as its vessels are unable to transit safely through the Strait of Hormuz to reach Ras Laffan amid the ongoing military conflict in West Asia. Earlier in the session, the stock had hit the 10% lower circuit at INR 277.80. At 1244 IST, the stock was slightly off its intraday lows and down over 9% at INR 280.15 on the National stock Exchange.
Petronet LNG issued a force majeure notice to QatarEnergy for its liquefied natural gas tankers, namely Disha, Raahi, and Aseem. The company has an existing LNG contract of 7.5 million tonnes per annum with QatarEnergy, according to a report by Business Today. QatarEnergy Tuesday said it has ceased LNG production following attacks on its operating facilities in Ras Laffan Industrial City. Consequently, Petronet LNG has issued corresponding force majeure notices to its off-takers, namely GAIL (India), Indian Oil Corp., and Bharat Petroleum Corp., under the relevant gas sale and purchase agreements on Tuesday.
Shares of city gas transmission and distribution companies such as Mahanagar Gas, Indraprastha Gas, Gujarat State Petronet, Gujarat Gas, GAIL (India), and Adani Total Gas traded 1.8-8.7% lower. GAIL (India) and Gujarat State Petroleum Corp. are also said to have LNG supply contracts of 1 mtpa each with QatarEnergy, the media report said.
India faces elevated risk of liquefied petroleum gas and LNG as almost the entire LPG imported by the country is derived from the Strait of Hormuz and almost 50% of its LNG imports flow through the narrow strip, Nomura said in a report. On Monday, a senior commander of Iran's Revolutionary Guard said the route had been shut and any vessel attempting to transit the waterway would be targeted, according to media reports.
The brokerage estimates an impact of 15% on the earnings before interest, tax, depreciation, and amortisation of Mahanagar Gas, a 22% impact on the EBITDA of Indraprastha Gas, and a 27% impact on Gujarat Gas's EBITDA. Petronet LNG and GAIL may also be negatively impacted due to lower gas volumes as higher prices may impact demand, Nomura said. Gujarat Gas, on the other hand, is expected to see higher demand from industrial customers, who could be compelled to switch from propane to natural gas as a result of LPG supply disruptions, Nomura said. (Arya S. Biju)
Equity Alert: Indices stay down; metal, banking stocks major laggards
MUMBAI--1148 IST--The benchmark indices remained down with metal and banking stocks being the major laggards. The Nifty 50 was weighed down by Larsen & Toubro and heavyweight ICICI Bank. Larsen & Toubro was down over 6% and ICICI Bank nearly 2%. Shares of metal stock Tata Steel, which fell over 7%, also weighed on the index.
At 1136 IST, the Nifty 50 was at 24370.20, down 495.50 points or 2%. The BSE Sensex was at 78741.50 points, down 1497.35 points or 1.9%. Only three constituents of the Nifty 50 were up. Coal India was the top gainer, up nearly 2%. Shares of Infosys and Bharti Airtel were up nearly 1?ch.
Shares of Shriram Finance, UltraTech Cement, JSW Steel, InterGlobe Aviation, SBI Life Insurance Co., and Tata Motors Passenger Vehicles were down 4–5%. InterGlobe Aviation said it had cancelled over 500 flights to West Asia and other international destinations between Saturday and Tuesday, following the outbreak of hostilities between the US and Israel on one side and Iran on the other.
All the broader market indices were also down. The Nifty Smallcap and Nifty Midcap indices were all down over 2%. The Nifty Smallcap 50 was weighed down by PG Electroplast, which fell over 6%. The Nifty Smallcap 250 was weighed down by shares of Aegis Vopak Terminals, which also fell nearly 6%.
All the sectoral indices were also down. Nifty Metal was the worst hit, down nearly 5%. All the constituents of the index were down. Shares of Tata Steel, Steel Authority of India, NMDC, JSW Steel, Jindal Steel, and Hindustan Coppper were down 4-6%. Tata Steel and Steel Authority were the worst-performing stocks in the Nifty 200. The Nifty Metal hit a one-month low of 11690.30 points.
Oil exploration company Oil India was the top gainer among Nifty 200 constituents. Shares of the company rose nearly 3%. Shares of Solar Industries and Swiggy rose around 2?ch.
In the Nifty 500, Petronet LNG was the worst-hit, down 9%. The company said it has issued a force majeure notice to partners, including QatarEnergy, as its vessels are unable to safely transit through the Strait of Hormuz to reach Ras Laffan amid the continuing military conflict in the region. Shares of Balrampur Chini Mills rose over 7% to be the top-gaining stock in the index. (Adhithya Aji)
Equity Alert: PNGS Reva Diamond lists at INR 372 on BSE, 4?low issue price
MUMBAI--1133 IST--Shares of PNGS Reva Diamond Jewellery listed at INR 372 on the BSE, at a discount of nearly 4% from the issue price of INR 386. On the National Stock Exchange, the stock listed at INR 375, a near 3% discount to the issue price. At 1129 IST, the stock traded nearly 3% lower at INR 374.60 on NSE, with over 2 million shares of the company having changed hands so far in the session.
The retail-focused jewellery brand's initial public offering, which ended Thursday, was subscribed to 1.23 times, with bids placed for 7.03 million shares against 5.71 million shares on offer. The public offer included a fresh issue of shares worth up to INR 3.80 billion. Ahead of the offer, the company had raised INR 1.71 billion by issuing 4.42 million shares to anchor investors.
PNGS Reva Diamond Jewellery is a retail-focused jewellery brand that offers a wide range of diamond, precious and semi-precious stone-studded jewellery. It also retails plain platinum jewellery. For the six months ended September, the company had reported a net profit of INR 201.33 million on revenue of INR 1.57 billion. (Arya S. Biju)
Equity Alert: Morgan Stanley ups Marico to overweight, Nestle to equal-weight
MUMBAI--1121 IST--Global brokerage Morgan Stanley has upgraded its recommendation on Marico to 'overweight' with a target price of INR 934 per share, indicating a near 20% upside from Monday's closing price, according to a post by CNBC-TV18 on X. The brokerage has also upgraded its recommendation on another fast-moving consumer goods player, Nestle India, to 'equal-weight' with a target price of INR 1,370 per share, indicating a 7% upside from Monday's closing price.
At 1101 IST, shares of Marico traded nearly 1% lower at INR 773.30 on the National Stock Exchange. So far in the day, 305,234 shares of the company have changed hands on the NSE, lower than the 338,774 shares traded till the same time Monday. Shares of Nestle India traded over 2% lower at INR 1,250.10. So far in the day, 409,600 shares of the company have changed hands on NSE, compared to 288,544 shares traded till the same time Monday. Morgan Stanley noted that it prefers companies with unique growth and profit balance.
However, the brokerage has downgraded Godrej Consumer Products to 'equal-weight' with a target price of INR 1,159, indicating an over 1% downside from Monday's closing price. At 1101 IST, the stock was down nearly 4% at INR 1,131.50. So far, 540,079 shares od the company have changed hands on the NSE, compared to the over 4 million shares traded till the same time Monday. (Arya S. Biju)
Equity Alert: CLSA says current weakness in L&T stock a buying opportunity
MUMBAI--1037 IST--Global brokerage CLSA said the current weakness in the stock of Larsen & Toubro should be viewed as a buying opportunity. The brokerage has cut the earnings per share estimate of the company by 1.8%, estimating the blockade of the Strait of Hormuz would continue for the whole month of March, CNBC-TV18 reported, citing CLSA. Iran closed the major maritime route, the Strait of Hormuz, after the combined attack by the US and Israel on the country.
Larsen & Toubro's order inflows for the December quarter rose 18% on year despite a 70% on-year decline in new orders from West Asia during the same period, CLSA said. The company's order backlog rose 30% on year to $81 billion for the December quarter. The order backlog remains robust in the current environment, particularly amid concerns of slowing activity in West Asia, according to the brokerage. The brokerage maintained an 'outperform' recommendation on the stock with a target price of INR 4,842.
Shares of the company fell nearly 8% to a one-month low of 3,760. At 1030 IST, shares of Larsen & Toubro traded over 6% lower at INR 3,807.60. Over 3 million shares of the company changed hands, which is higher than over 2 million shares traded till the same time Monday. The stock was among the worst hit in the Nifty 50 index. The stock fell over 12?ter tensions in West Asia heightened following the attack of the US and Israel on Iran. (Adhithya Aji)
Equity Alert: Small, midcap indices down over 2%; Nifty 50 likely to fall more
MUMBAI--1030 IST--The smallcap and midcap indices tumbled more than 2% as the continuing hostilities in West Asia raised the risk of higher energy costs for Indian companies. More than 80% of stocks listed on the NSE were down with metal, PSU banks, and real estate sectors being the worst hit.
The benchmark indices also fell around 2?ch, down more than 3% since the US and Israel launched an attack on Iran Saturday. At 1028 IST, the Nifty 50 index was down nearly 2%, or more than 400 points, at 24431 points. Since Friday's close, the index is down more than 800 points. Most technical analysts were convinced the index would fall more. They said the sharpness of the fall would be determined by how the European markets open.
"It looks like the index will break 24000 points easily and head to 23800 points," Kapil Shah, technical analyst at Emkay Global Financial Services, said. Shah said the India Volatility Index, the market's fear gauge, could shoot past its earlier high of 23 if sentiment remains weak. At 1021 IST, the India VIX was up nearly 21% at 20.72.
"I expect it (Nifty 50) to end around 400-450 points lower," Raj Deepak Singh, vice-president of derivatives research at ICICI Direct Research, said. This suggests the Nifty 50 is likely to end at the current level. He was of the view that the market may see some buying at lower levels, as had happened Monday. But a continuous fall in global indices could result in the domestic indices also declining further, he cautioned.
Selling in other Asian markets intensified with South Korea's KOSPI down around 9%. With this, the index has lost nearly 17% in three sessions. Among others, Japan's Nikkei 225 Day and Hong Kong's Hang Seng Index were down 3-4% as against 2-3?rlier. (Anshul Choudhary)
Equity Alert: Indices open lower as oil prices surge, global peers fall
MUMBAI--0945 IST--The benchmark indices opened lower as oil prices continued to surge on the ongoing military action in West Asia. All global equity indices were down, with Wall Street indices ending lower and Asian indices opening lower. The Nifty 50 was weighed down by the index heavyweights and shares of Larsen & Toubro. The heavyweight stocks--Reliance Industries, ICICI Bank, and HDFC Bank--were down 1-3%.
At 0941 IST, the Nifty 50 was at 24382.90 points, down 482.80 points or 1.9%. The BSE Sensex was at 78645.49 points, down 1593.36 points or 2%. The Nifty 50 has fallen over 3% since the commencement of hostilities in West Asia, triggered by a joint Israel-US strike on Tehran that killed Iran's supreme leader, Ayatollah Ali Hosseini Khamenei, Saturday.
Crude oil prices continued to gain momentum as the conflict intensified. Iran had closed the Strait of Hormuz earlier, sparking global concern about crude oil supply. At 0940 IST, the May futures contract of Brent Crude on the Intercontinental Exchange was at $82.41 per barrel, up 1.2%. Over the past three days, crude oil prices have risen 14%.
Infosys and Coal India were the only stocks in positive territory in the Nifty 50, up over 1?ch. Shares of oil explorer Oil and Natural Gas Corp. were up marginally. Larsen & Toubro was the worst hit stock in the 50-stock index, down at a one-month low of INR 3,776.30. The company's order book has significant exposure to West Asia and the hostilities in the region have triggered fears of disruption of the company's operations. Shares of Tata Steel, InterGlobe Aviation, Shriram Finance, JSW Steel, UltraTech Cement, and Adani Enterprises were also down 4-5%.
Solar Industries India was the top gaining stock among Nifty 200 constituents, up nearly 2%. Shares of Swiggy also rose nearly 2%. Meanwhile, shares of Steel Authority of India fell over 5%. The stock was among the worst hit in the index. In the Nifty 500 index, Tejas Networks was the top gainer, up nearly 8%. In contrast, Mahanagar Gas and Petronet LNG were down over 7%. (Adhithya Aji)
Equity Alert: Indices seen opening sharply dn amid escalating W Asia conflict
MUMBAI--0837 IST--Headline indices are expected to open sharply lower Wednesday, extending the sell-off from Monday, amid escalating tensions in West Asia. The widening conflict in the region continued to rattle equity markets around the globe with no signs of concluding. Indian stock markets were closed Tuesday for Holi.
The Gift Nifty is indicating another round of a big gap-down opening, following a knee-jerk reaction in global equity markets amid the ongoing conflict in West Asia, Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market, said. At 0813 IST, the March contracts of the Nifty 50 traded on the NSE International Exchange at 24431.50 points, indicating a fall of over 400 points from Monday's close. A sustained trading below the 24600 spot level, is expected to drag the Nifty 50 index down to 24300–24000 levels in the near term, Kumaar said. He also expects volatility to remain on the higher side amid the continuing tensions in the region.
Oil prices continued to rise on fears of a prolonged disruption of shipping in the Strait of Hormuz, a critical transit route that accounts for nearly 20% of global crude oil and gas flows. The May futures contract of crude oil opened at $82 per barrel on the Intercontinental Exchange, over 5% higher than Monday's close and nearly 1% up from Tuesday. At 0747 IST, the Brent crude oil futures were at $82.38 per barrel, up nearly 6% from Monday's close.
Asian markets remained under pressure Wednesday, with South Korea's KOSPI leading the losses. The index shed nearly 7% Wednesday, extending a steep sell-off from the day before when the index recorded its worst day in 19 months. Overnight in the US, stocks had another wild session with the Dow Jones Industrial Average, Nasdaq Composite, and the S&P 500 closing around 1% lower each.
In the domestic market, foreign portfolio investors continued to be net sellers Monday, selling Indian equities worth INR 32.96 billion. At the same time, domestic institutional investors net bought equities worth nearly INR 85.94 billion.
Retail-focused jewellery brand, PNGS Reva Diamond Jewellery Ltd. will list on the bourses Wednesday. The issue price is set at INR 386 per share. (Arya S. Biju)
Equity Alert: Asian indices tumble on concern over high energy costs
MUMBAI--0755 IST--Indices across Asia fell sharply for the third session in a row as the US-Iran military conflict raised concerns over disruption in oil supplies, which could lead to higher energy costs. Trading in South Korea's KOSPI was paused briefly after it hit a 5% lower circuit.
The KOSPI has lost 14% in the last three sessions. Among other major indices in Asia, Japan's Nikkei 225 fell 8% during the three sessions and Hong Kong's Hang Seng fell nearly 5%.
Higher energy cost is a major concern for countries across Asia as a major chunk of their oil needs are met by West Asian countries. Iran intensified its attack on US military bases across the region and hit energy infrastructre, raising concerns of disruptions in oil supply. Shares of energy companies across Asia fell.
Brent crude oil May futures have jumped to near $82-per-barrel level from around $70 per barrel before the US and Israel attacked Iran last week. At 0741 IST, Brent crude futures were at $81.95 per barrel, up nearly 1%.
US President Donald Trump on Tuesday said the US Navy will protect ships going through the Strait of Hormuz if needed. However, media reports said Iran has warned that it will attack any ship trying to cross the Strait.
Meanwhile, China's official data showed the manufacturing Purchasing Managers' Index fell to 49 in February from 49.3 in January. It was also below market's expectations of 49.3, Dow Jones reported. The PMI fell as manufacturers paused production due to an extended holiday on account of Spring Festival.
Following are the levels of key Asian indices at 0754 IST:
| Index | Level | Change in % |
| CSI 300 Index | 4625.52 | (-)0.65 |
| Hang Seng Index | 25364.19 | (-)1.57 |
| Nikkei 225 Day | 54281.4 | (-)3.55 |
| TOPIX FIRST SECTION | 3637.62 | (-)3.57 |
| KOSPI | 5411.5 | (-)6.57 |
| FTSE Singapore Strait Times | 4819.82 | (-)1.97 |
| S&P/ASX 200 Index | 8905.9 | (-)1.89 |
(Anshul Choudhary)
Equity Alert: US indices fall 1?ter Iran intensifies attack in West Asia
MUMBAI--0720 IST--Indices in the US dropped around 1?ch as the US-Iran military conflict entered its fourth day. Crude oil futures jumped as the Strait of Hormuz remained closed and Iran attacked several other countries in West Asia, targetting US military bases and energy infrastructure.
Brent crude oil May futures had jumped to $85 per barrel on Tuesday as Iran intensified its attacks. Post this, the Dow Jones Industrial Average fell 0.8%, closing at its lowest level in over a month. At 0706 IST, crude oil futures were up 1% at $82.55 per barrel.
Media reports said the conflict between the US-Israel combine and Iran could last longer than previously expected after the latter upped its attacks on US bases. US President Donald Trump also suggested the hostilities with Iran may last for weeks. Iran-backed Hezbollah also attacked regions in Israel, raising the risk of a wider conflict in West Asia.
"I do think the possibility of a more prolonged mission can weigh on markets for the next several weeks," Jeffrey O'Connor, US head of equity market structure at Liquidnet, told CNBC. "Historically, the US market is able to overlook a geopolitical shock like this, but that said, the Strait of Hormuz is closed."
All the sectors of the S&5 500 fell, with materials and industrials witnessing the biggest fall. There were concerns the higher oil prices and borrowing costs will hit the US economy and lead to higher inflation, CNBC reported.
Following are the closing levels of US indices Tuesday:
| Index | Level | Change in % |
| S&P 500 | 6816.63 | (-)0.94 |
| NASDAQ Composite | 22516.69 | (-)1.02 |
| Dow Jones Industrial Average | 48501.27 | (-)0.83 |
(Anshul Choudhary)
US$1 = INR 92.15
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Deepshikha Bhardwaj
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