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Indian markets opened sharply lower amid rising oil prices and West Asia tensions, with IT stocks under pressure and investors turning cautious. Read the full story for key levels and what could drive the next move.

Cabinet clears IIFCL’s IPO; listing likely in FY27. FY25 net profit rose 39% to ₹2,165 crore, profit before tax ₹2,776 crore; record sanctions ₹51,124 crore.

A potential closure of the Strait of Hormuz, a critical chokepoint for global oil shipments, is raising fears of a spike in crude prices. This could disrupt a key global oil route and tighten the supply chain amid rising market uncertainty.

The Geological Survey of India (GSI) plans to pursue 300 critical mineral exploration projects next year. It aims to identify and map key resources, such as lithium, nickel, and cobalt, to support India’s strategic mineral needs and reduce import dependence.

OPEC+ will raise output by 206,000 bpd from April amid disruptions in Gulf oil shipments. However, markets may remain volatile as tensions near the Strait of Hormuz push oil prices higher.

Most Indian stock market indices opened lower on 2 March 2026 amid rising Middle East tensions. Adani Ports, BEL, Tata Motors, Airtel and GAIL were among the key stocks in focus.

Amid the Iran crisis, India’s oil supply remains stable with 10–15 days of crude stocks, even as 2.5–2.7 million barrels per day flow via Hormuz.

Adani New Industries Limited will manufacture India’s longest onshore wind turbine blade, marking a major step in domestic renewable manufacturing. The move aligns with India’s push for localisation and the rising demand for wind energy.

India’s manufacturing PMI rose to 56.9 in February from 55.4 in January, a four-month high, driven by strong domestic demand, faster output growth, moderate inflation pressures and relatively slower export expansion.

India and Canada signed a critical minerals MoU and concluded a C$2.6 billion long-term uranium supply agreement during Canadian PM Mark Carney’s visit to New Delhi. The deals support India’s nuclear expansion plans.

The dollar strengthened and the euro weakened after US–Israel strikes on Iran pushed oil prices up nearly 9% and triggered safe-haven flows. With at least 150 tankers anchored near the Strait of Hormuz, concerns over energy supply disruptions have intensified.

Markets tumbled sharply on Monday. West Asia tensions pushed crude above $82, weakened the rupee past 91, and extended FII selling, erasing over ₹6 lakh crore in investor wealth.