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3 min read | Updated on March 30, 2026, 16:05 IST
SUMMARY
The SENSEX dropped as much as 1,809 points and NIFTY50 index touched an intraday low of 22,284 dragged down by losses in index heavyweights like HDFC Bank, State Bank of India, ICICI Bank, Bharti Airtel and Axis Bank.
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Bajaj Finance was top loser in the NIFTY50 index, the stock dropped 4.95% to close at ₹802. Image: Shutterstock
The Indian equity benchmarks ended sharply lower on Monday, March 30, while the greenback surged past 95 per dollar mark for first times and crude oil prices jumped in global markets after President Donald Trump on Monday declared that American forces had struck “many long sought after targets” in Iran, as the Pentagon surged thousands of troops to the Middle East, raising tensions across an already volatile region.
The SENSEX dropped as much as 1,809 points and NIFTY50 index touched an intraday low of 22,284 dragged down by losses in index heavyweights like HDFC Bank, State Bank of India, ICICI Bank, Bharti Airtel and Axis Bank.
In a post on Truth Social, Trump said: “Big day in Iran. Many long sought after targets have been taken out and destroyed by our GREAT MILITARY, the finest and most lethal in the World. God bless you all!”
The president offered no details about the locations or scope of the reported strikes. In an interview with the Financial Times published Sunday, Trump said he was considering taking control of Iran’s oil resources, including Kharg Island, the country’s primary oil export terminal.
“To be honest with you, my favourite thing is to take the oil in Iran,” Trump said, adding that the United States had “a lot of options.” He suggested US forces could seize Kharg Island with little resistance.
The SENSEX crashed 1,636 points to close at 71,947.55 and NIFTY50 index dropped 488 points to close at 22,331.40.
Bajaj Finance was top loser in the NIFTY50 index, the stock dropped 4.95% to close at ₹802. Shriram Finance (-3.82%), State Bank of India (-3.8%), InterGlobe Aviation (-3.65%) and Kotak Mahindra Bank (-3.59%) were also among the losers in the NIFTY50 index.
On the flip side, Hindalco (2.46%), Tech Mahindra (1.66%), Coal India (1.13%), ONGC (1.05%) and Power Grid (0.1%) were notable gainers in the NIFTY50 index.
NIFTY Midcap 100 index fell 2.68% or 1,448 points to close at 52,650. As many as 95 shares in the NIFTY Midcap 100 index ended lower.
Groww was top loser in the NIFTY Midcap 100 index, the stock dropped 7.75% to close at ₹149.70. LG Electronics (-7%), Bank of India (-5.74%), Paytm, (-5.73%), and SBI Cards (-5.56%) were also among the top losers in the NIFTY Midcap 100 index.
On the other hand, National Aluminium (4.3%), SAIL (3.08%), Page Industries (1.19%), Waaree Energies (0.56%) and Premier Energies (0.55%) were notable gainers in the NIFTY Midcap 100 index.
NIFTY Smallcap 100 index tumbled 2.66% or 416 points to close at 15,204. A total of 92 shares ended lower while eight ended higher.
Hindustan Copper was top loser in the NIFTY Smallcap 100 index, the stock fell 8.2% to settle at ₹453. Ola Electric (-6.8%), Anant Raj (-6.7%), Brainbees Solutions (-6.63%) and Syngene International (-6.36%) were top laggards in the NIFTY Smallcap 100 index.
On the contrary, Urban Company (3.18%), Navin Fluorine (1.83%), Chambal Fertilisers (1.69%), Affle (1.1%) and Aster DM Healthcare (0.39%) were top gainers in the NIFTY Smallcap 100 index.
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