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Stock Market Crash | Gold, Silver Price LIVE: The Indian stock market witnessed a gap-down opening, tanking 2% on Monday, as inflation fears due to the escalating US-Iran war, which has entered its fourth week, rattled global markets. Sensex tanked 1974.5 points or 2.64% lower to intraday low of 72,558.44 while Nifty 50 tanked 636 points or 2.75% to 22,478.

Rupee also fell 33 paise to fresh all-time low of 93.86 against US dollar in early trade.

All sectors on the NSE were also in the red led by metals, banks, fin services and auto indices whereas midcap and smallcap indices also lost over 2% each.

Asian markets traded lower, while the US stock market slid last week, with the S&P 500 closing at six month-low, as the US-Iran war escalated.

Escalating the three-week-old war, Iran said on Sunday that it would strike the energy and water systems of its Gulf neighbours if US President Donald Trump follows through on his warning to target Iran’s electricity grid within 48 hours. Iran also warned that it could completely shut a crucial waterway and target energy, IT, and desalination infrastructure if its facilities are attacked.

Trump had issued the warning on Saturday evening (New York time), raising fears of a broader regional conflict and disruption to global energy supplies. At the same time, reports indicated that the US military is deploying thousands of additional marines and sailors to the Middle East, further intensifying concerns.

Gold and silver prices declined more than 3% as the escalating US-Iran war stoked inflation concerns and expectations of higher global interest rates.

Spot gold price plunged 3.3% to $4,340.09 per ounce, extending losses for a ninth consecutive session. US gold futures for April delivery tanked 5% to $4,347 an ounce. Spot silver prices lost 3.3% to $65.55 per ounce.

Gold prices extended their drop to a roughly four-month low, and had crashed more than 10% last week.

Among other commodities, spot platinum prices fell 4.4% to $1,838.45 and palladium prices declined 0.4% to $1,398.50.

Crude oil prices were stable after a sharp rise as Trump gave Iran a 48-hour ultimatum to open the Strait of Hormuz or face decimation of its energy infrastructure. Brent crude oil price eased 0.68% to $111.43 a barrel, while the US West Texas Intermediate (WTI) crude futures fell 0.13% to $98.10.

Stay tuned to this segment for the latest developments in the Indian stock market today along with the gold and silver prices.

Indian government bonds plummeted, while the rupee depreciated to a record low on Monday, following a sharp rise in US Treasury yields and a surge in crude oil prices amid prolonged US-Iran war.

The benchmark 6.48% 2035 government bond yield rose 9 basis points to 6.8261%, after closing at 6.7369% on Friday, reflecting selling pressure in the debt market.

In global markets, US Treasury yields advanced amid rising inflation concerns, which have strengthened expectations of potential interest rate hikes by the Federal Reserve.

The 10-year US Treasury yield rose 3 basis points to 4.41%, its highest level in nearly eight months, while the two-year yield climbed 4 basis points to 3.94%.

Gold slid more than 5% on Monday, reaching its weakest level of 2026 after logging its worst week in about 43 years, as an escalating Middle East conflict stoked inflation concerns and raised expectations of higher global interest rates.

Spot gold fell 5.8% to $4,226.16 per ounce as of 0633 GMT, its lowest since December 11, and extended losses into a ninth straight session.

The metal dropped more than 10% last week, its worst week since February 1983, and has also retreated more than 20% from its record peak of $5,594.82 an ounce reached on January 29.

U.S. gold futures for April delivery fell 7.5% to $4,231.80. (Reuters)

Silver price in India extended their sharp fall on Monday, March 23, as rising geopolitical tensions in the Middle East rattled global markets and pushed investors away from precious metals.

On the domestic front, MCX silver prices extended its decline, cracking 12% or ₹27,129 at ₹1,99,643 per kg, while MCX gold also slipped 10.3% or ₹14,897 to ₹1,29,595 per 10 gram, tracking weakness in global markets.

Sensex tanked 1973 points or 2.64% lower to intraday low of 72,560.19 while Nifty 50 tanked 636 points or 2.75% to 22,478.

Asian shares dipped Monday, as oil prices continued to climb after U.S. President Donald Trump’s latest comments dashed hopes for an early end to the war in Iran.

Japan’s benchmark Nikkei 225 dropped 3.5% to 51,511.75 in afternoon trading. In Taiwan, the Taiex shed 2.5% to 32,722.50. Australia’s S&P/ASX 200 fell 0.7% to 8,365.90. South Korea’s Kospi dove 6.5% to 5,404.77. Hong Kong’s Hang Seng slipped 4.0% to 24,279.23, while the Shanghai Composite declined 3.7% to 3,811.62.

Trump over the weekend warned the U.S. will “obliterate” Iran’s power plants if it doesn’t fully open the Strait of Hormuz within 48 hours, prompting Tehran to say it would respond to any such strike with attacks on U.S. and Israeli energy and infrastructure assets in the region. (AP)

Gold fell sharply and was close to wiping out this year’s gains, as the war in the Middle East entered its fourth week and the US and Iran traded threats of new attacks.

Bullion plunged as much as 3.8% to $4,320.30 an ounce — less than a dollar above where it ended last year. Since the conflict began, surging oil prices have raised inflationary risks and reduced prospects for near-term interest-rate cuts by the US Federal Reserve and other central banks. This is a headwind for non-yielding gold, which has fallen for eight consecutive sessions and just posted its biggest weekly drop since 1983.

Gold’s choppy opening mirrored the broader market, with crude fluctuating near the highest close since mid-2022 and equity markets also volatile. In the three weeks since the war began on Feb. 28, bullion’s decline has been driven partly by forced selling as investors seek to cover losses elsewhere in their portfolios. The metal ended last year at $4,319.37 an ounce. (Bloomberg)

Metal stocks came under severe selling pressure on Monday, March 23, declining up to 6% and emerging as the worst sectoral performer today as the Indian stock market crashed following the prolonged US-Iran war and disruptions to oil and energy supply.

All index constituents traded in the red, dragging the Nifty Metal index 4.25% lower to 10,927 today. Hindustan Copper shares, down 6.4%, emerged as the worst losers. They were followed by Hindustan Zinc, its parent Vedanta, SAIL and NMDC, each losing over 5%. Vedanta shares also remain in focus ahead of the board meeting later today to consider dividend payout.

Steel companies like Tata Steel, JSW Steel and Jindal Steel also declined significantly between 4.3-4.9%.

Vedanta share price declined on Monday, March 23, prior to its board meeting scheduled to discuss a third interim dividend for its shareholders. The record date for this anticipated dividend distribution has been set for Friday, March 27.

The company's board has previously distributed dividends amounting to ₹23 per share to its shareholders for the financial year 2026, which consisted of a first interim payment of ₹7 per share on June 18, 2025.

This resulted in a total disbursement of over ₹2,400 crore for the company, while the second interim payment, announced in August, was for ₹16 per share, leading to an expenditure of over ₹6,200 crore, according to data from BSE.

Brent crude prices have jumped sharply by over 60% since the beginning of the US–Iran–Israel conflict, climbing to around $112 per barrel on Monday from nearly $70 per barrel at the start of the conflict, amid significant disruptions in global energy supply.

In the past 30 days alone, crude oil prices have risen by about 56%, reflecting the severity of the ongoing supply shock.

On Monday, US West Texas Intermediate (WTI) rose 52 cents to $98.75 per barrel, building on a 2.27% gain in the previous session.

Back home, crude oil prices on Multi Commodity Exchange (MCX) remained in a positive trajectory, up 1.12% at ₹9,360 per barrel.

Innovision share price made a weak debut in the Indian stock market on Monday, March 23. The stock listed at 10% discount to the IPO price of ₹519 per share.

Innovision share price opened at ₹466 on BSE and ₹467 on NSE. This means that the IPO allottees made a loss of 10% over the Innovision IPO listing.

The listing of Innovision IPO exceeded the market expectations. Ahead of the debut, the GMP of Innovision IPO was ₹-92, which indicated estimated listing price of ₹427.

DCX Systems share price surged by 12% on Monday, March 23, after the company secured a purchase order from a domestic client valued at approximately ₹563.45 crore.

This order involves the production and delivery of Maritime Patrol Radar Systems (MPR) intended for airborne applications. On March 18, the company also received a purchase order worth ₹12.81 crore to produce and supply cable and wire harness assemblies from both domestic and international clients.

Earlier this month, the company was awarded an order amounting to ₹68.05 crore from Hindustan Aeronautics to manufacture and deliver custom-designed antennas and power supplies for airborne applications.

Investors' wealth was eroded by about ₹8 lakh crore within minutes as the overall market capitalisation of BSE-listed firms dropped to ₹421 lakh crore from ₹429 lakh crore on Friday.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments said:

"With the war in West Asia getting into the fourth week, there is no clarity on when the war will end. Unfortunately, the war is escalating with President Trump giving ultimatum to Iran to open the Strait of Hormuz in 48 hours. Iranian president’s response that “ the Strait of Hormuz is open to all except those who violate our soil” has prevented panic in the oil market. However, the uncertainty is huge and markets will be waiting and watching the outcome.

It is important to understand that the huge risk-off globally has impacted all assets including stocks, bonds and precious metals like gold and silver. In fact, the crash in the safe haven gold is worse than in equities.

There is nothing that investors can do during this crisis characterised by huge uncertainty. If history is any guide investors should not panic, but keep cool.

The sharp depreciation in the rupee will benefit exporters like pharmaceuticals and autos and auto ancillaries. The beaten down IT segment may surprise with a bounce back."

Rupee crashes 33 paise to fresh all-time low of 93.86 against US dollar in early trade.

Gold prices in India opened sharply lower on Monday, following weakness in global bullion prices as escalating US-Iran war stoked inflation fears and concerns of higher global interest rates.

MCX gold rate opened 3% lower at ₹1,40,158 per 10 grams as against its previous close of ₹1,44,492 level. It hit a low of ₹1,36,403 level, slipping as much as ₹8,089, or 5.59%.

MCX gold price was trading lower by ₹7,608, or 5.27%, at ₹1,36,884 per 10 grams level.

Silver prices extended their sharp fall on Monday, March 23, as rising geopolitical tensions in the Middle East rattled global markets and pushed investors away from precious metals.

On the domestic front, MCX silver prices declined 6% or ₹13,606 at ₹2,13,166 per kg.

Nifty Midcap 100 was fell 2% while Nifty Smallcap 100 lost 2.2% in intra-day deals today.

The Indian stock market opened sharply lower on Monday, with benchmark indices starting the session on a gap-down note as rising inflation concerns linked to the ongoing US-Iran conflict, now in its fourth week, unsettled global sentiment.

Sensex tanked 1555.60 points or 2% lower to intraday low of 72,977.34 while Nifty 50 tanked 480 points or 2% to 22,634.55.

Weak global cues added to the pressure, with Asian markets trading in the red and the US market ending lower last week. The S&P 500 had slipped to a six-month low amid intensifying geopolitical tensions.

The situation in the Middle East has further escalated, with both the US and Iran threatening to strike critical infrastructure. Meanwhile, the Strait of Hormuz remains effectively shut, raising concerns over global energy supply disruptions.

Gold prices slipped more than 2% on Monday, extending their drop to a roughly four-month low, as an escalating Middle East conflict stoked inflation concerns and expectations of higher global interest rates.

Spot gold was down 2.5% at $4,372.86 per ounce, as of 0238 GMT, extending losses for a ninth consecutive session. The metal, which fell on Monday to its lowest level since January 2, lost more than 10% last week.

U.S. gold futures for April delivery fell 4.4% to $4,375.60. (Reuters)

Bank Nifty index ended 23.95 points, or 0.04%, lower at 53,427.05 on Friday, forming a mild bearish candle on the daily chart. For the week, the index declined 0.62% and formed a gravestone doji on the weekly timeframe, indicating rejection from higher levels.

“Bank Nifty index has breached its previous swing low and ended the week below the previous week’s low, signaling a major bearish shift in momentum. For this week, the 53,000 level stands as the make-or-break level; a breakdown here could trigger a deeper correction toward the 52,000 zone,” said Dr. Ravi Singh, Chief Research Officer at Master Capital Services Ltd.

On the upside, he added that 54,100 and 55,000 now act as stiff overhead hurdles.

“Strategy remains ‘sell on rise’ until the Bank Nifty index decisively reclaims 55,000. Selling pressure is expected to continue as breakdown is visible in heavyweights,” said Singh.

Nifty 50 formed a small-bodied bullish candle with a long upper shadow on the daily chart, indicating selling pressure at higher levels. For the week, Nifty 50 index fell 0.16%, marking its fourth consecutive week of decline, and formed a gravestone doji on the weekly timeframe, highlighting rejection from higher levels.

“Technically, the Nifty formed a “Doji” candlestick on the weekly chart, indicating the potential for a bullish reversal. Additionally, the RSI on weekly charts has shown positive divergence, reinforcing the possibility of a trend turnaround. However, for confirmation, the Nifty 50 index must hold its recent swing low support at 22,930. On the upside, 23,378 and 23,868 remain critical resistances for the coming sessions,” said Vinay Rajani, Senior Technical Research Analyst, HDFC Securities.

The dollar rose as retaliatory threats escalated in the US-Iran war boosted demand for haven assets. The dollar index, which measures the greenback against a basket of currencies, rose 0.03% to 99.53. The yen rose 0.06% to 159.11 per dollar, the euro slid 0.06% to $1.1563, and sterling weakened 0.06% to $1.3331.

Sensex is showing signs of consolidation near lower levels, indicating a cautious undertone with scope for range-bound movement.

“The 73,900 – 74,000 band acts as an immediate demand zone for Sensex where dip-buying interest may emerge on any pullback, while the 75,000 – 75,200 range stands as the immediate resistance hurdle, where upside is likely to face supply pressure and profit booking,” said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking.

With a modest recovery and close above immediate levels, the near-term outlook remains cautiously neutral, and a sustained upside follow-through will be key to improving sentiment, while failure to hold current stability may keep volatility elevated, he added.

On the technical front, Ponmudi R, CEO of Enrich Money noted that COMEX gold has seen a sharp correction after retesting its earlier record-high resistance zone of $5,300–$5,500, and is currently trading in the range of $4,450–$4,520.

Meanwhile, on the technical outlook of silver prices, he said that COMEX Silver continues to trade within a subdued range of $62–$70 after a sharp correction from its earlier highs near the $93–$97 resistance zone, with the decline largely driven by profit-booking and a stronger US dollar.

Ponmudi further noted that on the downside, the $60–$65 zone acts as a critical demand base; a decisive breakdown below this region could accelerate weakness toward $50 or lower levels. On the upside, a sustained hold above this support may trigger a recovery toward $75–$80, with extended gains potentially reaching $85–$90.

“Overall, the broader bullish bias remains intact, supported by a balance between safe-haven demand and industrial demand. However, this outlook would weaken if there is a decisive break below the key $60–$65 support zone, while geopolitical developments and macroeconomic factors are expected to continue influencing price direction,” he added.

According to Ponmudi R, CEO of Enrich Money, precious metals are likely to remain under pressure in the coming week after witnessing a sharp correction triggered by profit booking, a stronger US dollar, and mixed cues from ongoing geopolitical tensions in the Middle East.

He added that after testing previous highs, precious metals have entered a pullback phase, with prices now heading toward key support levels as investor sentiment turns cautious amid heightened event risks.

“A selective buy-on-dips strategy near strong support zones is advisable, as long-term macro fundamentals remain supportive. However, near-term headwinds from dollar strength and any signs of easing geopolitical tensions may cap upside potential,” Ponmudi said.

Foreign Portfolio Investors (FPI) sold Indian equities worth more than ₹1 lakh crore in 2026 so far. According to NSDL data, FPI outflows from the Indian stock market since the beginning of this year touched ₹1,01,527 crore. In March so far, FPI selling was ₹88,180 crore.

The 10-year US Treasury yields were at an eight-month high of 4.4110%, having climbed 44 basis points since the war began.

The Japanese government bond yields climbed to a two-month high. The benchmark 10-year JGB yield rose 5.5 basis points (bps) to 2.315%, the highest since January 21. The 20-year JGB yield climbed 6 bps to 3.180%, while the five-year yield rose 5 bps to 1.720%. The two-year yield increased 2.5 bps to 1.29%.

Asian markets slumped on Monday as escalating US-Iran war weighed on investor sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2%. Japan’s Nikkei 225 plunged 5%, while the Topix declined 4.4%. South Korea’s Kospi cracked 6% and the Kosdaq dropped nearly 5%. Hong Kong Hang Seng index futures indicated a lower opening.

Crude oil prices traded mixed after a sharp rise as Trump gave Iran a 48-hour ultimatum to open the Strait of Hormuz or face decimation of its energy infrastructure. Brent crude oil price fell 0.29% to $111.87 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 0.37% to $98.59 a barrel.

Gold prices declined more than 3%, extending their drop to a roughly four-month low, as the escalating US-Iran war stoked inflation concerns and expectations of higher global interest rates. Spot gold price plunged 3.3% to $4,340.09 per ounce, extending losses for a ninth consecutive session. Gold prices crashed more than 10% last week. US gold futures for April delivery tanked 5% to $4,347 an ounce. Spot silver prices lost 3.3% to $65.55 per ounce.

The trends on Gift Nifty also signal a gap-down start for the frontline indices, Nifty 50 and Sensex today. The Gift Nifty was trading around 22,836 level, a discount of nearly 304 points from the Nifty futures’ previous close.

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, as inflation fears due to the escalating US-Iran war, which has entered its fourth week, rattled global markets.Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.

Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism.

Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends.

An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.

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