US Iran War LIVE Updates: Iran Crisis Jolts India Trade, Energy Security

IT stocks fell sharply on March 2, with the Nifty IT index dropping over 2% to 29,889 — close to its 52-week low — as the US-Iran war and AI disruption fears weighed on sentiment, reported Mint.

Between 1.5% and 3%, industry titans like TCS, Infosys, HCL Technologies and Wipro saw a decline. Coforge fell almost 5% to reach a one-year low, and Persistent Systems fell 6%, becoming the worst performer. Amid worries about slowing demand and pressures from automation, the sector's decline builds on losses from the previous month.

Amidst heightened geopolitical tensions in West Asia, India's volatility index (VIX), a crucial indicator of market anxiety, rose by almost 20% to 16.37 on March 2 — its highest level since June 2025, according to Business Standard.

The increase is a result of growing investor apprehension due to increased conflict and worries about oil price shocks, which also had an impact on benchmark indices. Sharp increases in the price of crude oil and defensive purchases of safe-haven assets coincided with the VIX jump, highlighting the rising unpredictability in the equity markets.

TVS Motor Company reported a 31% year-on-year rise in total sales at 5,29,308 units in February 2026, compared with 4,03,976 units a year earlier, reported Business Standard.

Two-wheeler sales climbed 30%, led by 32% growth in domestic volumes. Motorcycle sales rose 25% and scooters gained 34%. EV sales surged 60% to 38,386 units, underscoring strong electric mobility momentum. Three-wheeler sales jumped 77%, while total exports grew 27% during the month.

India's oil supplies and expanded trade connections are being impacted by Iran's widening power vacuum. Concerns about the stability of crude exports have grown as political unpredictability in Tehran worsens, which could raise oil prices globally and cause supply chains that mainly depend on Iranian barrels to malfunction.

Long-term energy contracts and trade corridors are also at risk, which is why policymakers and industry observers are re-evaluating risk exposure. The developments put additional strain on energy security and economic planning for India, one of the biggest oil importers in the world.

Read More

Mahindra & Mahindra reported robust sales in February 2026, driven by a strong performance in its SUV line-up, with domestic SUV sales rising 19% to 60,018 units compared with the year-ago period, reported ET.

Total automobile sales for the month reached 97,177 vehicles, marking an 18% year-on-year increase as demand remained strong across its utility vehicle portfolio. This growth underscores sustained consumer interest in SUVs amid broader market gains, while commercial and export segments also contributed.

The Strait of Hormuz is a narrow but strategically vital waterway linking the Persian Gulf to global markets, with nearly a fifth of the world’s oil supply passing through it daily.

As tensions escalate in West Asia, concerns over potential disruptions at this key chokepoint have unsettled global energy markets. For India, heavily reliant on crude imports routed through the strait, any blockade or military escalation could mean higher oil prices, supply shocks and inflationary pressure.

Read More

Shares of oil marketing companies (OMCs) tumbled on March 2 as surging crude oil prices amid the escalating Middle East war weighed on the Indian stock market, reported Mint.

Indian Oil Corporation fell over 5%, HPCL dropped 5.31% and BPCL declined 6.09%, while Reliance Industries slipped more than 3%. In contrast, upstream oil producers gained, with ONGC rising 4.73% and OIL India advancing 4.43%.

Shares of Tejas Networks, Paras Defence and Space, ideaForge Technology, Bharat Electronics (BEL) and Hindustan Aeronautics (HAL) jumped up to 15% on March 2 as escalating tensions in West Asia triggered investor interest in defence counters, reported Mint.

Analysts told Mint that geopolitical conflicts typically boost defence spending and accelerate procurement. While experts flagged potential supply chain risks for firms dependent on Israel, select stocks such as BEL and MTAR Technologies showed relative strength. Defence names may outperform during prolonged tensions, though short-term volatility cannot be ruled out.

Rising tensions in the Middle East shook markets the morning of March 2, causing shares of airlines and travel-related businesses to plummet, reported PTI.

SpiceJet fell 7.27% and InterGlobe Aviation fell 7.50% on the BSE. Thomas Cook lost 5.40%, TBO TEK lost 8.19%, Easy Trip Planners lost 9.39%, and Yatra Online fell 11.14%. Due to widespread airspace closures that interfered with flight operations, the BSE Sensex fell more than 1,000 points and the NSE Nifty also saw a significant decline.

The Commerce Ministry will meet exporters and key stakeholders on March 2, to assess the potential impact of the prevailing regional situation on India, reported CNBC-TV18.

The discussions will focus on evaluating possible trade and supply chain disruptions amid escalating tensions. Officials from the Ministry of Shipping and other government departments are also expected to participate in the discussions.

Iran “will not negotiate with the United States,” Ali Larijani, Secretary of the Supreme National Security Council of Iran, wrote in a post on X on March 2.

Larijani rejected media reports claiming Iranian officials had sought talks with the Trump administration following a weekend of US-Israeli strikes on Iranian territory, dismissing any such outreach as inaccurate.

Three American service members were killed and five others seriously wounded during US military operations against Iran, the Pentagon confirmed Sunday — marking the first US combat deaths since the offensive began.

The troops, part of a logistics unit, were attacked as Tehran retaliated for joint US-Israeli strikes targeting Iranian military infrastructure, reported PTI.

After the Islamic Revolution in 1979, Iran and Israel's once-strategic alliance broke down, leading to decades of proxy conflicts, clandestine operations and animosity between the two countries entwined with nuclear anxieties.

Following Tehran's nuclear developments, the most recent escalation broke out in February 2026 with coordinated US-Israel strikes on Iranian cities, igniting a new conflict and regional repercussions.

India has called for moderation in order to safeguard its interests and citizens in the face of escalating tensions, given its strong defence ties with Israel and its energy and trade connections with Iran and the Gulf.

Read More

India’s benchmark indices, the Nifty 50 and the Sensex, slumped on Monday following the escalation of geopolitical tensions in West Asia over the weekend. The Nifty 50 fell 2.06% to 24,659.25, the sharpest intraday drop since February 1. Meanwhile, the BSE Sensex dropped 3.38% to 78,543.73, the steepest fall in nearly a year.

Oil prices surged over 7% to nearly $82.40 per barrel, their highest level in months. Safe-haven asset gold climbed 2%, while the Indian rupee slumped to ₹91.23 per dollar, its lowest level in a month. 

Click Here to Read More.