Sensex, Nifty Tumble At Open; Nikkei, Kospi Crash Up To 5% As US-Iran War Drags

Stock Market Today: Equity benchmarks started with a big gap-down on Monday, March 30, 2026, tracking weak cues from global markets. The BSE Sensex opened 1,018 points, or 1.38 per cent, lower at 72,565.22, while the NSE Nifty 50 started 269.95 points, or 1.18 per cent, down at 22549.65.

Asian indices crashed up to 5 per cent in early trade as US-Israel-Iran war entered its fifth week, with no signs of de-escalation in sight. South Korea’s Kospi tanked as much as 5.3 per cent, while Japan’s Nikkei 225 fell up to 5.26 per cent. Hong Kong’s Hang Seng declined up to 2.17 per cent, and China’s CSI 300 slipped as much as 1.23 per cent.

The sell-off was triggered after the Iran-backed Houthi rebels in Yemen also joined the war, launching a barrage of missiles at Israel on March 28, their first such attack since the onset of the US–Israel war with Iran. The entry of a key Iranian proxy further raises concerns over global trade and economic stability. Notably, the group holds control over Yemen’s Red Sea coastline.

US and Israeli attacks on Iran have continued since February 28, keeping the geopolitical situation tense. US President Donald Trump has said he is holding off on striking Iran’s power plants, but only if Tehran reopens the Strait of Hormuz by April 6.

The Strait of Hormuz is one of the world’s most important energy routes, with nearly one-fifth of global oil and LNG supplies passing through it. This makes any disruption there a major concern for global markets.

Disruptions have already pushed oil prices higher.

If the situation persists, it could lead to higher fuel costs, rising inflation, and slower global growth.

Meanwhile, Trump has also said Iran is open to talks to end the war, but Tehran has denied any such discussions, adding to uncertainty.

This is a developing story...