Post by : Shakul
Indian equity markets witnessed heavy volatility on Monday, March 2, as port and logistics stocks plunged up to 10% in intraday trade, rattled by the sharp escalation of the US-Iran conflict in the Middle East. Global tensions flared after the United States and Israel launched large-scale military operations inside Iran, triggering panic across international markets and driving investors toward safe-haven assets such as gold and government bonds.
The situation worsened over the weekend as Iran responded with retaliatory missile strikes targeting Israel and US military facilities across the region. Multiple locations in Qatar, the United Arab Emirates, Kuwait and Bahrain were reportedly hit, raising fears of a wider regional war with serious implications for global trade routes, oil supply chains and shipping activity.
On Dalal Street, port stocks bore the brunt of the sell-off. Gujarat Pipavav Port and JSW Infra fell nearly 5% each, while Adani Ports declined around 4.6%. In the logistics space, Delhivery crashed 10%, Blue Dart Express slipped close to 7%, and Container Corporation of India dropped 6.8% to a fresh 52-week low. TCI also ended the session down about 5%.
The broader market opened sharply lower as risk aversion swept through equities. The Sensex plunged over 2,700 points at the open before trimming losses, while the Nifty 50 fell more than 500 points at its intraday low. Despite partial recovery later in the session, investor wealth took a significant hit, with total market capitalisation eroding by nearly ₹5 lakh crore amid ongoing geopolitical uncertainty.
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