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Asian Markets Plunge as Geopolitical Tensions Fuel Selling Spree

Indian equity markets extended their selloff, with the Sensex plunging over 1500 points and the Nifty dropping nearly 489 points by midday. The sharp decline was driven by surging Brent crude prices above $102 per barrel and escalating geopolitical tensions in West Asia. Chief Investment Strategist VK Vijayakumar noted that with FIIs selling persistently, even large-cap bluechips are under pressure, leaving bulls on the defensive. He highlighted the pharmaceuticals sector as a relative safe haven, benefiting from rupee depreciation and portfolio churns.

Key Points: Sensex Crashes 1500 Pts, Asian Markets in Red Amid Tensions

  • Brent crude surges to USD 102 per barrel
  • Sensex crashes 1500 points, Nifty down 488 points
  • Geopolitical tensions in West Asia spook markets
  • FIIs persist with sustained selling strategy
  • Pharma sector seen weathering the storm
2 min read

Asian mid-market in red amid selling spree; Sensex down by 1500.12 pts, Nifty down 488.65 pts

Indian & Asian markets plunge as crude hits $102 and West Asia tensions trigger a major selloff. Sensex down 1500 pts, Nifty down 488 pts.

"With Brent crude around $100, bulls are on the defensive. - VK Vijayakumar"

New Delhi, March 13

The domestic equity markets midday market stood in the red on Friday, extending the ongoing selling spree amid Brent Crude moving up to trading at USD 102 per barrel and geopolitical tensions in West Asia.The benchmark indices opened lower in mid-day trade, reflecting cautious investor sentiment. The Nifty 50 index stood at 23,150.50, declining by 488.65 points or, while the BSE Sensex stood at 74,534.30, down by 1500.12 points or, at 1:55 pm.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, "With the heightened uncertainty surrounding the West Asian conflict continuing, globally markets are weak and in unchartered territory. Weakness in the US markets indicate that rebound in the market is some time away. With Brent crude around $100, bulls are on the defensive. With the FIIs persisting with their sustained selling strategy, even largecap bluechips are under pressure."

Nikkei 225, Japan market, stood at 53,774.00, down by 678.96 points (-1.26 per cent); Straits Times, Singapore market, stood at 4,838.07, down by 17.26 points (-0.36 per cent). Hang Seng, Hong Kong market was down to 25,441.00 by 275.76 points (-1.08 per cent), while Taiwan Weighted, Taiwan market stood at 33,400.32, down by 181.54 points (-0.54 per cent), and KOSPI, South Korea market stood at 5,487.24, down by 96.01 points (-1.75 per cent)

Vijayakumar highlighted the pharma sector as one that is standing its ground. "One segment that is weathering the storm is pharmaceuticals. This sector is not impacted by external headwinds. In fact, rupee depreciation is a positive for the sector, which is a major exporter. It appears that portfolio churns are happening in favour of pharmaceuticals. There is nothing much investors can do in this challenging times other than remaining calm and continuing with systematic investment," he said.

- ANI

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Reader Comments

P
Priya S
Crude oil at $102 is a major concern for our economy. It affects everything from petrol prices to inflation. The government needs to have a solid plan to manage this volatility. Hope the situation in West Asia de-escalates soon.
V
Vikram M
Interesting point about the pharma sector holding strong. It makes sense with the rupee depreciation. Might be a good time to look at some pharma stocks for the long term. Any other sectors that are relatively safe in this storm?
S
Sarah B
Watching from the US, but have investments in India. The global market correlation is clear. When US markets are weak, it drags everything down. The FII selling is a big factor. Need patience.
R
Rohit P
Yaar, every time there's some tension abroad, our market gets a heart attack. We are too dependent on foreign money. Need to build stronger domestic institutions. This is a wake-up call.
K
Karthik V
While the advice to stay calm is standard, I respectfully think analysts could provide more actionable guidance for retail investors during such sharp corrections. Just saying "stay calm" isn't enough for people seeing their portfolios bleed.
N
Nisha Z
Seeing all Asian markets down together is concerning

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