Market News

Equity markets continued their decline on Wednesday as tensions in the Middle East seem not to pause. Even gold and silver experienced strain as traders continue to watch global cues closely.

Russia has offered to increase oil supplies to India and China as Strait of Hormuz tensions intensify. India imports nearly 2.5–2.7 mbd of crude through the key Gulf shipping route.

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.

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.

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.

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.

On Monday, equities may open with a gap down. Oil and gas and defence stocks are likely to see action, while consumer stocks may remain under pressure. Traders should expect a volatile but range-bound session.

Gross GST collections rose 8.1% to ₹1.83 lakh crore in February, driven by 17.2% import growth, while net GST stood at ₹1.61 lakh crore.

Defence shares jumped as Iran-Israel tensions rose. Tejas Networks and Paras Defence surged up to 13.5%. The Nifty India Defence Index has gained 5% this year on risk and export optimism.

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.

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