Stock markets today March 4, 2026: Sensex, Nifty tumble over 2% in early trade

Market Performance - The benchmark equity indices Sensex and Nifty experienced significant declines, with Sensex dropping 1,758.22 points or 2.19% to 78,480.63 and Nifty falling 530.85 points or 2.13% to 24,334.85, driven by the escalating conflict in West Asia and rising oil prices [2][5] - Asian markets also faced sharp declines, with South Korea's Kospi tumbling over 10%, and other indices like Japan's Nikkei 225, Shanghai's SSE Composite, and Hong Kong's Hang Seng showing significant losses [4] Sector Analysis - Major laggards in the Sensex pack included Larsen & Toubro, Tata Steel, InterGlobe Aviation, UltraTech Cement, Adani Ports, and Mahindra & Mahindra, while Infosys, HCL Tech, and Tata Consultancy Services were among the gainers [3] - Brent crude, the global oil benchmark, increased by 0.87% to $82.11 per barrel, reflecting the impact of geopolitical tensions on oil prices [3][5] Economic Implications - Analysts highlighted that the ongoing war and rising crude oil prices are leading to heightened market uncertainty, with concerns about inflation and its potential impact on economic growth in India, which relies on imports for approximately 85% of its oil needs [7] - The widening trade deficit, depreciating currency, and higher inflation are critical issues for the market, as indicated by the significant equity offloading by Foreign Institutional Investors (FIIs) worth Rs 3,295.64 crore, contrasted with Domestic Institutional Investors (DIIs) purchasing stocks worth Rs 8,593.87 crore [8]