9 Feb Market Update: Oil Spike Triggers Global Sell-Off In Early Trade
- By Kotak News Desk
- 09 Mar 2026 at 11:33 AM IST
- Market News
- 4 min read
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A rise in oil prices following the ongoing conflict in the Middle East sent markets tumbling in early trade on Monday, with the Sensex plunging more than 2400 points.
Indian equity benchmarks opened sharply lower on Monday, 9 February 2026. The sell-off followed a surge in global crude oil prices after tensions escalated in the Middle East. The Sensex plunged more than 2,400 points at the opening bell. The Nifty 50 slipped below the 23,750 mark.
The decline reflected a broad risk-off mood across global markets after crude prices jumped above $115 a barrel. At 09:25 am, the Sensex was trading 2,401 points lower at 76,518, a fall of about 3%. The Nifty declined 727 points to 23,723.
Negative Market Breadth
Market breadth remained deeply negative in early trade with:
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537 advancing shares
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2,603 declining shares
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180 shares remain unchanged
The data showed heavy selling across sectors and market capitalisation segments.
Oil Shock Hits Markets
The sell-off came after a sharp spike in global oil prices. This triggered fears of renewed inflation pressure and slower economic growth. Analysts said the spike in crude represents a fresh oil shock for global markets.
Rise In India VIX
Market volatility rose sharply at the open. The India VIX jumped more than 20%, indicating rising nervousness among traders and investors. The jump in VIX also signalled that traders expect continued volatility in the near term. Sectoral indices too opened in deep red.
Inflation Concerns Resurface
Analysts said higher crude prices could trigger fresh inflation concerns for economies that depend heavily on oil imports. They feel inflation may rise even if the full increase in oil prices is not passed on to consumers. They feel that uncertainty over the duration of the conflict could also influence foreign institutional investor sentiment.
Read more : Pre-Market 9 March 2026: Nifty At 24,450; Oil Shock Weighs On Sentiment
What Does It Mean For Markets And Investors?
With the Middle East conflict showing almost no signs of easing, markets are likely to remain under pressure in the coming days. Asset allocation and focus on long-term fundamentals are likely to guide investors in these trying times, feel industry watchers. Also, investors are likely to be cautious until there is clarity on global oil prices and the duration of the Middle East conflict.
Sources:
Moneycontrol
The Economic Times
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