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India's Stocks Plunge $12 Billion Amid Iran War Impact

4/3/2026

44 6 Full Breakdown

Summary

Story summary

The Iran war drove a record Indian equities sell-off of over $12 billion in March 2026.
The Nifty 50 declined over 10%, with a price-to-earnings ratio of 19.6 times.
Rising energy costs and supply-chain disruptions prompted India's Chief Economic Advisor to warn of downside risks to 7.0%–7.4% growth for the year ending March 2027.
The government cut fuel excise duties and moved to stabilize the rupee, risking longer-term fiscal health.

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Story summary

The Iran war drove a record Indian equities sell-off of over $12 billion in March 2026.
The Nifty 50 declined over 10%, with a price-to-earnings ratio of 19.6 times.
Rising energy costs and supply-chain disruptions prompted India's Chief Economic Advisor to warn of downside risks to 7.0%–7.4% growth for the year ending March 2027.
The government cut fuel excise duties and moved to stabilize the rupee, risking longer-term fiscal health.