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Stock market recap: Indian equities witnessed a significant sell-off on Monday, 2 March, as escalating geopolitical tensions in West Asia triggered a global "risk-off" sentiment. The Nifty 50 plummeted 312.95 points (1.24%) to settle at 24,865.70, while Sensex shed 1,048.34 points (1.29%) to close at 80,238.85 in a volatile session. India VIX, or the fear gauge, surged more than 20% to cross the 17 level.

Domestic equities tumbled under relentless selling pressure on Monday as the US-Israel and Iran conflict stoked fears of elevated crude oil prices and clouded India Inc’s earnings outlook for the coming quarters.India’s benchmark Nifty 50 fell 1.2% to 24,865.7, tracking weakness across Asian markets, though it fared marginally better than most emerging peers. Thailand led the declines, plunging nearly 4%, followed by Indonesia and Hong Kong, where benchmark indices slipped 2-3%.

aviation and maritime corridors that connect India with key West Asian markets, complicating travel planning for patients and increasing freight expenses for exporters.While companies have yet to report a sustained demand shock, hospitals and drugmakers say the disruption to mobility and logistics systems underpinning cross-border healthcare and medicine trade raises the risk of softer medical travel volumes and higher export costs if tensions persist.The aviation disruption is particularly significant for India’s medical tourism sector, which recorded approximately 644,387 foreign tourist arrivals in 2024. It is particularly exposed to West Asia, a region that accounts for nearly 18% of inbound patients, or about 115,000 travellers, seeking treatment ranging from complex surgeries to advanced clinical care.As regional airspace comes under heightened security scrutiny, industry leaders say travel uncertainty is beginning to influence patient decision-making.

drive up natural gas prices and freight costs, industry officials and analysts said.Although the government makes a provisional estimate of the fertilizer subsidy at the start of the financial year—based on sowing patterns, irrigated area and historical demand—it carries an implicit obligation to enhance the allocation if unforeseen developments arise.Currently, the fertilizer subsidy is projected at ₹1.71 trillion for the next financial year, slightly lower compared to the revised estimate of ₹1.86 trillion for the ongoing 2025-26 fiscal (FY26)."If the crisis persists for long, the fertilizer prices are expected to go up which might require higher subsidies," said an industry official on the condition of anonymity. In the past, the government has been making special financial provisions for additional subsidies in case of a spike in global prices.Natural gas, the primary feedstock and energy source for urea production, accounts for a bulk of fertilizer manufacturing costs, making the sector highly sensitive to price spikes.Research firm Zero Carbon Analytics has said that of the top countries that import oil and gas via the Strait of Hormuz, Japan faces the most direct risk of disruption, due to its high share of oil and gas trade through the shipping route and its reliance on imported oil and gas.

crude flows, has emerged as a flashpoint after US and Israeli strikes on Iran and retaliatory actions by Tehran. While there has been no formal closure, heightened uncertainty has been enough for carriers to alter schedules and pause sailings.Shipping majors including Mediterranean Shipping Company and A.P.

The US and Israel are betting on regime change in Iran through air attacks that began on Saturday. So far, bombardment has left Iran’s top leader Ayatollah Khamenei dead and sparked a retaliatory flare-up in West Asia. This is a gamble, although US air-strike precision has improved since its 2003 war on Iraq to end Saddam Hussein’s rule, an invasion that left countless civilians dead and inflamed the region.

assassination of Iran's supreme leader Ayatollah Ali Khamenei, which has raised hopes of a speedy end to the conflict, regime change in Teheran, peace in the region and the stability that markets crave. Iran's state media confirmed that Khamenei died on the first day of military assault by the US and Israel."Markets could actually rally on hopes of stability in the region in the days ahead after the confirmed death of the supreme leader," said Nirmal Jain, founder of IIFL Group.

A rift between the AI firm Anthropic and the US federal government has broken into the open at a fraught geopolitical moment. Negotiations between the AI firm and the Pentagon over deployment of frontier models by the US military stalled after Anthropic refused to permit the use of its models for two specific use cases: domestic surveillance and lethal autonomous weapons. Open AI has struck a deal with the Pentagon in the meantime, even as the use of AI in the battlefield accelerates with deployments by Israel and the US in the ongoing war in West Asia.

Mint examines how events in Iran will unfold and their implications for India and the rest of the world.Late on Saturday, the US and Israeli forces launched ‘Operation Epic Fury’—a massive military operation that not only killed Iran's supreme leader Khamenei but also 40 senior officials, disrupting the Islamic Republic’s command and control. The strikes happened across 24 of Iran’s 31 provinces. Iran retaliated by firing missiles and drones into Israel and other Arab states in the region.

Indian companies with operations in West Asia spent the weekend tracking their employees and gauging the impact on their businesses as the US-Israel strikes on Iran escalated the conflict, freezing movement from outside and within the region.“We are in touch with the client firms. The workers are safe.

Technological innovation in all quarters is critical for accelerated economic growth. However, India’s research and development (R&D) debate often focuses on public spending: how much the government allocates, which missions are launched and what headline targets are announced. The data, however, suggests that India’s innovation shortfall is fundamentally an industry story.

Write to Dov Lieber at [email protected], Alexander Ward at [email protected] and Laurence Norman at [email protected] all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.

There’s a full fledged war going on between once-close neighbours Pakistan and Afghanistan. The two have been trading deadly shelling and mortar fire across their border, with Pakistan Defence Minister Khwaja Asif saying on Friday that his country’s patience had “run out” and declaring “open war” on its neighbour.

Subscribe to enjoy similar stories. Iran has sought for years to build closer military ties with China and Russia, but its powerful friends are proving reluctant to step forward as the regime faces the most acute U.S. threat to its survival in decades.

Subscribe to enjoy similar stories. Drones are revolutionising logistics, swiftly moving everything from medical supplies to diagnostic samples across challenging terrain. Leading Indian drone companies have been at the forefront of this shift, adapting their technology to navigate the country's complex geography and climate.

Subscribe to enjoy similar stories. The U.S. military has deployed scores of combat aircraft across the Middle East and will soon have a second aircraft carrier within range of Iran if President Trump gives the order to strike.

Subscribe to enjoy similar stories. Syria’s possible descent into another civil war, Israel’s recognition of Somaliland, the United Arab Emirates’ failed offensive in Yemen, final U.S. withdrawal from Iraq, and the slow transition from war to peace in Gaza may appear to be disconnected events in a fractious region.

Subscribe to enjoy similar stories. The language of diplomats is polite. That is especially true for those who speak Arabic, a tongue inclined towards courtesies and honorifics.

Subscribe to enjoy similar stories. The Pentagon has told a second aircraft carrier strike group to prepare to deploy to the Middle East as the U.S. military prepares for a potential attack on Iran, according to three U.S.

Subscribe to enjoy similar stories. As Iran and the United States return to the negotiating table over Tehran’s nuclear ambitions, the geopolitical stakes have shifted. While Iran enters these discussions, which began on 6 January, on much weaker footing than in the past, US President Donald Trump arrives emboldened by the recent success of the Venezuela operation.