Top Gainers & Losers on March 02: IndiGo, RVNL, Syrma SGS, LT Foods, Swiggy, OLA among key movers | Stock Market Today

The Indian stock market faced heavy pressure on March 2, with escalating tensions in the Middle East rattling global markets. Both major indices closed sharply lower, as investors reacted to the risk of further geopolitical escalation.

The Nifty 50 ended the day 1.24% down at 24,865, while the Sensex fell 1.29% to 80,238. Broader markets also bore the brunt, with the Nifty Midcap 100 and Nifty Smallcap 100 indices slipping more than 1.5%.

Market Performance: A Day of Broad Sell-Off

Global events set the tone for Monday’s session. After the US and Israel reportedly targeted Iran over the weekend, killing Iran's Supreme Leader and several top military officials, the world watched closely as Iran retaliated by striking US military positions in the Gulf.

• Crude oil prices surged as concerns over potential supply disruptions through the Strait of Hormuz intensified.
• The Strait of Hormuz remains a critical channel, handling nearly 20% of global oil flows and over 40% of India’s crude imports.
• Iran, producing just over 3 million barrels per day in January, is the fourth-largest OPEC producer.

Safe-haven assets like gold and silver saw increased interest as investors moved away from risk assets amid uncertainty.

Aviation, Rail, and Export Stocks Take a Hit

The impact of rising geopolitical risks was visible across aviation, rail, and export-oriented stocks:

• InterGlobe Aviation (IndiGo) and SpiceJet dropped over 6.4%, reflecting concerns over higher fuel costs and disrupted travel routes.
• RailTel Corporation fell 6.4%, hitting levels not seen since April 2025. Other railway stocks also struggled:
  • Rail Vikas Nigam: down 5.2%
  • Ircon International: down 4.6%
• Rice exporters faced selling pressure amid worries about Middle East demand:
  • LT Foods: down 5.5%
  • KRBL: down 3%
• AWL Agri Business shares declined 4.4% to ₹180.9 each.
• Chemical stocks were also affected by rising crude prices:
  • Himadri Speciality Chemicals: down 5.7%
  • Gujarat Fluorochemicals: down 5.1%
  • PCBL Chemical: down 4.6%

Consumer-facing tech stocks also struggled:

• Ola Electric shares fell 4.3% to ₹24.1 each.
• Swiggy extended its losing streak to eight sessions, sliding 4.23% to ₹289, hitting an all-time low.

Select Stocks Show Resilience

Not all stocks followed the downward trend. A few counters managed to outperform despite market weakness:

• Tejas Networks emerged as a top performer among Nifty 500 stocks, surging 11.2% to ₹484.7.
• Poly Medicure bounced back, closing 4.61% higher, snapping a two-day losing streak.
• Defence stock Solar Industries India rose 3.6% to ₹13,989, benefiting from increased interest in defence-linked counters amid conflict.
• Finolex Cables continued its rally for the fourth consecutive session, climbing 3.6% to ₹946.45.
• Muthoot Finance gained 3.5% to ₹3,471, supported by a rally in gold prices.

Other notable gainers included Tube Investments of India, KEI Industries, MCX, Anand Rathi Wealth, Nalco, and Hindustan Zinc, all closing between 2% and 3% higher.

Summary: A Volatile Session Amid Geopolitical Risks

Monday’s market session highlighted the sensitive interplay between geopolitical developments and stock market performance:

• Middle East tensions pushed crude oil prices higher.
• Aviation, rail, and export-oriented stocks faced significant pressure.
• Safe-haven and defence-linked stocks showed resilience.
• Investors remained cautious amid rising uncertainty in global markets.

The trading session underscored how geopolitical events can rapidly reshape market sentiment, influencing sectors differently. Stocks tied to exports, aviation, and oil remain sensitive, while defence and precious metal-linked counters often benefit in such volatile periods.

Source: Livemint