Indian equity markets have experienced significant volatility since the US-Iran conflict began on February 28, 2026, with the BSE Sensex falling 607.08 points (0.78%) to close at 76,802.90 on Friday. According to reports from LiveMint, the NSE Nifty 50 declined 154.90 points (0.64%) to settle at 24,013.10, snapping a five-session winning streak. The conflict, triggered by US and Israel airstrikes on Iran, has led to a 4-5% decline in Indian equity markets as escalating geopolitical tensions and volatile crude oil prices dampened investor sentiment.
The US-Iran conflict has significantly impacted global energy markets, with Iran moving to block the Strait of Hormuz, a critical shipping route accounting for nearly 20% of global crude oil and liquefied natural gas shipments. As reported by LiveMint, before the blockade, the Strait of Hormuz was one of the world's most strategically important energy corridors. The disruption has fuelled concerns about supply shortages and pushed oil prices higher, adding to inflationary pressures across major economies. Brent crude oil prices edged higher on Friday but were still headed for a weekly decline of around 8%, reflecting easing supply concerns following the ceasefire in Lebanon.
During the period from February 27 to June 18, 2026, several stocks emerged as top performers despite market volatility. According to LiveMint analysis, HFCL Ltd. emerged as the biggest gainer with a return of 191.39%, followed by Aditya Infotech Ltd. which surged 108.03% and Cemindia Projects Ltd. which gained 106.98%. Other notable performers included Emmvee Photovoltaic Power Ltd. (70.96%), Welspun Corp Ltd (69.33%), OLA Electric Mobility Ltd. (67.61%), Adani Power Ltd. (64.56%), Syrma SGS Technology Ltd. (63.79%), Adani Green Energy Ltd. (59.05%) and Bharat Heavy Electricals Ltd. (53.20%).
Several stocks experienced significant declines during the same period, with Vedanta Ltd. being the worst performer, declining 57.41%. As reported by LiveMint, IDBI Bank Ltd. fell 27.06%, Ashok Leyland Ltd. dropped 24.94%, Force Motors Ltd. declined 23.33%, and Indian Oil Corporation Ltd. fell 22.06%. Other major laggards included Rail Vikas Nigam Ltd. (RVNL) which dropped 21.74%, Pine Labs Ltd. (21.23%), The Ramco Cements Ltd. (21.19%), Mahindra & Mahindra Financial Services Ltd. (20.91%) and JK Tyre & Industries Ltd., which declined 20.72%.
