83% of BSE 500 stocks suffered losses due to Iran-Israel war. 101 fell by double digits, up to 35%. What do you own?

admin2 hours ago

The Iran-Israel/US war is now in its third week and its fallout is triggering widespread selling in Indian stocks. An analysis of the BSE 500 index shows a sharp decline since the outbreak of hostilities on February 28. As of Thursday, about 83%, or 413 stocks, were trading in the red. Of these, 20%, or 101 securities, fell by double digits, up to 35%.

The 3,000-point (+8%) decline in BSE 500 companies is evidence of growing risk aversion in the overall market as investors worry about macro headwinds.

Domestic markets have been reeling from tariff-related uncertainty for most of 2025, but the issue is creeping into 2026 until India and the US announce an agreement, indicating some progress on the issue. Then came the multibillion-dollar global disruption driven by AI after Anthropic launched its Claude Cowork plug-in for agents that could automate tasks across legal, sales, marketing, and data analytics.

The war has become the latest flashpoint for global stock markets, inflicting two blows. Energy prices were soaring and the U.S. Federal Reserve was maintaining its policy interest rate at 3.5% to 3.75%. The central bank hinted at just one 25 basis point cut in 2026, compared to a 2 basis point cut at the start of the year.

Crude oil prices soared to around $116 a barrel on Thursday but corrected sharply to around $105 in Friday morning trading. These developments also influenced the Federal Reserve’s decision at its meeting that ended Wednesday. The rate-setting panel voted 11 to 1 not to change the rates.

In India, the problem has been made worse by the depreciation of the rupee against the US dollar. INR opened at a low of 92.94 against the dollar.

Commodity and currency expert Anuj Gupta said he expects the rupee to remain in the $93-$94 range in the near term and expressed concern over a sharp spike in crude oil prices. Gupta said the INR has fallen 2.39% against the US dollar since the outbreak of war and has fallen 3.26% so far in 2026.Read more: IDBI Bank hit by sell-off as share price falls by 30% in a month. Buy, Sell or Hold?

double digit loser

However, it is important to note that company-specific issues were also a factor in weakening sentiment. In the case of IDBI Bank, its shares have fallen 35% since the war began after the Economic Times reported that financing bids received for the government’s sale of the lender’s strategic stake may stall as it falls below the deal reserve price. It’s the worst loser of the bunch.

Also Read: Nifty Bank posts third worst March decline since global financial crisis. HDFC Bank, SBI, etc. are the main culprits.

Among the stocks whose performance was directly linked to the war were Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), Mahanagar Gas, Redington, Aegis Vopak Terminals and Sapphire Foods India (the QSR chain that operates KFC and Pizza Hut), which fell between 21% and 16%.

State-run OMCs are affected by high fuel prices, which impacts margins.

Redington, a technology distributor and supply chain solutions provider, restricted its Gulf operations, while Aegis Vopak, which operates liquids and LPG storage terminals, also declined due to war-led sentiment.

Also Read: QSR stock falls up to 47% as weak investor appetite, rising fuel risks sour sentiment. Is it time to go bottom fishing?

Real estate stock Signature Global (India) also fell 19%. This sector is sensitive to interest rates and influenced by raw material prices.

Some great stocks that fell by double digits include Larsen & Toubro (L&T), Maruti Suzuki, Eicher Motors, UltraTech Cement, State Bank of India (SBI), Max Healthcare Institute and Bajaj Finance.

Widely tracked stocks such as Godrej Industries, Ashok Leyland, Tata Motors Passenger Vehicles (TMPV), Netweb Technologies India, Hindustan Copper, Lodha Developers, UCO Bank, Rail Vikas Nigam (RVNL), Canara Bank, Punjab National Bank (PNB), Zee Entertainment Enterprises, Bank of Baroda (BoB), ACC and IDFC First Bank also saw corrections of over 10% each.

Data reflects changes as of March 19, 2026.