Sensex drops 450 points, Nifty at 23,072 as West Asia tensions spike crude
Synopsis
West Asia has moved from a geopolitical headline to a market event. With US forces striking Iran, Brent crude at $95.47, and Nifty IT down over 2%, Indian equities are absorbing a simultaneous energy-price and risk-off shock — and analysts warn the pressure may not lift until the conflict trajectory becomes clearer.
Key Takeaways
Sensex fell over 450 points to an intraday low of 73,518 on 11 June , while Nifty50 slipped to 23,072 .
Nifty IT index tumbled more than 2% ; HCLTech led with a drop of over 3% .
Brent crude surged 2.54% to $95.47/barrel ; WTI gained 4% to $93.64/barrel .
US Central Command confirmed fresh strikes on Iran , escalating the West Asia conflict.
Nifty Pharma , Nifty500 Healthcare , and Nifty Media bucked the trend, with Media rising 0.78% .
Analysts flagged continued pressure from foreign fund flow uncertainty and elevated energy prices.
Sensex tumbled over 450 points or 0.62% to an intraday low of 73,518 in early trade on Thursday, 11 June, as escalating conflict in West Asia and a sharp surge in crude oil prices rattled investor confidence. The broader Nifty50 slipped more than 100 points or 0.61% to 23,072, extending a risk-off wave that swept through global equity markets overnight.
Sectors Under Pressure
IT stocks bore the brunt of the selloff, with the Nifty IT index tumbling more than 2%. HCLTech led individual declines, falling over 3%, followed by Infosys and Tech Mahindra. Trent, Eternal, TCS, and Wipro were also among the notable laggards, alongside Eicher Motors, Titan, and Mahindra & Mahindra.
Nifty MidSmall IT & Telecom, Nifty Cement, and Nifty Auto were among other major sectoral losers. Not all sectors were in the red, however — Nifty Pharma and Nifty500 Healthcare gained up to 0.50%, while Nifty Media emerged as the top sectoral performer, rising 0.78%.
What Is Driving the Selloff
Market experts attributed the cautious sentiment to the latest escalation in the West Asia conflict. US Central Command confirmed that American forces launched additional strikes on multiple targets in Iran, describing the action as a response to what it called the country's continued aggression.
International benchmark Brent crude rose 2.54% to $95.47 per barrel, while US West Texas Intermediate (WTI) crude gained 4% to $93.64 per barrel. Analysts warned that higher energy prices could stoke inflationary pressures globally, complicating the outlook for interest rates and economic growth.
Global Market Reaction
The risk-off mood was not confined to India. Across Asia, Hong Kong's Hang Seng and South Korea's KOSPI declined up to 1%, while Japan's Nikkei traded flat. Overnight on Wall Street, the S&P 500 fell 1.62% and the Nasdaq declined nearly 2%, setting a weak tone for Thursday's Asian session.
Rupee and Near-Term Outlook
'The recent measures undertaken by the RBI and the government have helped stabilise the rupee to some extent. However, uncertainty surrounding global developments and foreign fund flows may continue to keep markets under pressure in the near term,' analysts said. The combination of elevated crude, a fragile rupee, and geopolitical uncertainty creates a difficult backdrop for equity markets in the sessions ahead.
Point of View
The current account deficit, and the RBI's inflation calculus. IT's simultaneous slide compounds the pain: the sector faces US demand risk on one side and a strengthening dollar on the other. If Brent holds above $95 and the conflict escalates further, the RBI's room to cut rates narrows sharply, removing one of the few near-term catalysts the market had been pricing in.
NationPress
7 Aug 2026
Frequently Asked Questions
Why did Sensex and Nifty fall on 11 June?
Sensex dropped over 450 points and Nifty slipped to 23,072 on 11 June due to escalating conflict in West Asia and a sharp rise in crude oil prices. US forces launched fresh strikes on Iran, triggering a broad risk-off selloff across global markets.
How much did crude oil prices rise?
Brent crude rose 2.54% to $95.47 per barrel, while US WTI crude gained 4% to $93.64 per barrel on 11 June. Analysts warned the surge could stoke global inflation and complicate central bank rate decisions.
Which stocks fell the most in today's session?
HCLTech led Nifty 50 declines with a fall of over 3%, followed by Infosys and Tech Mahindra. Trent, Eternal, TCS, Wipro, Eicher Motors, Titan, and Mahindra & Mahindra were also among the notable losers.
Were any sectors in positive territory?
Yes — Nifty Pharma and Nifty500 Healthcare gained up to 0.50%, while Nifty Media was the top sectoral gainer, rising 0.78%. Healthcare stocks bucked the broader downtrend driven by the geopolitical shock.
What is the outlook for Indian markets in the near term?
Analysts expect markets to remain under pressure as long as the West Asia conflict persists and crude oil stays elevated. They noted that while RBI and government measures have provided some rupee stability, foreign fund flow uncertainty and high energy prices are likely to weigh on sentiment.
