GIFT Nifty Today: Markets Set to Plunge as Iran War Fears Resulted Sharp Rise in Crude Price

The benchmark Indian equity indices, Sensex and Nifty 50, are set for a sharp downturn on Monday as escalating conflict between US-Israel and Iran sends crude oil prices soaring and drives investors toward safe havens like gold. 

Investor sentiment is deeply fragile following the killing of Iran's supreme leader in US-Israeli strikes and subsequent retaliatory attacks, raising fears of a broader regional war that could disrupt global oil supplies. 

On Friday, domestic markets had already closed sharply lower. The BSE Sensex plunged 961 points, or 1.17%, to settle at 81,287, while the NSE Nifty 50 tumbled 318 points, or 1.25%, to end at 25,178. 

GIFT Nifty Signals Steep Losses  

GIFT Nifty was trading near the 25,050 mark, a discount of 235 points or 0.93% to the previous close of Nifty futures, pointing to a deeply negative start for domestic indices. 

Asian Markets in Red After West Asia Escalation  

Asian equities traded deep in the red on Monday morning as the conflict between Iran and US-Israel escalated. Japan’s Nikkei 225 tumbled almost 2% on its open, with the Topix falling 2.1%.  

Hong Kong Hang Seng index futures were at 26,465, below the previous close of 26,630.54. South Korea’s markets were closed for a public holiday. 

Read More: Nifty Weekly Expiry Today: Sammaan Capital Under F&O Ban on March 2, 2026! 

US Futures and Wall Street Slump  

US futures slumped overnight following the attack on Iran and its retaliation. Futures on the Dow Jones Industrial Average dropped 571 points, or 1.2%. S&P 500 futures lost 1%, and Nasdaq 100 futures declined a little more than 1%. 

Crude Oil and Gold Surge on Safe-Haven Demand 

Brent crude oil surged 13% to $82 a barrel in early trade before retreating to a 7% gain, as strikes on Iranian infrastructure threatened oil deliveries and the security of the Strait of Hormuz. 

Simultaneously, gold prices jumped sharply as investors piled into safe-haven assets. Gold futures on COMEX rose 2.4% to trade at $5,372.20 an ounce. In India, the rate for 24-carat gold today is Rs 1,62,190 per 10 grams. 

FII/DII Data  

Foreign institutional investors (FII) were net sellers of shares worth Rs 7,536.36 crore on February 27.  

On the other hand, Domestic institutional investors (DII) were net buyers of shares worth Rs 12,292.81 crore on the same day, according to provisional data available on the NSE. 

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