Stock Market Crash Impact: More than Rs 17 lakh crore lost, Iran-Israel war has a strong impact on 10 stocks, see list

Stock Market Crash Impact: After the Iran crisis and the ongoing war situation in the Middle East, a huge fall was seen in the Indian stock market on March 2. Investors’ wealth reduced by more than Rs 17 lakh crore in the first minutes of trading. Sensex fell 1,400 points. The increasing tension in the Middle East has put special pressure on the stocks of those companies whose business or order books are related to this region.

Larsen & Toubro (L&T)

Shares of Larsen & Toubro (L&T), the country’s largest infrastructure company, fell more than 5% in early trading. About 35% of the company’s total order book comes from West Asia, due to which investors are worried.

VA Tech Wabag

This stock also saw a decline of more than 4% in early trading. The company has many projects going on in the Middle East, especially Saudi Arabia.

Kalpataru Projects

Shares of Kalpataru Projects also fell by more than 3% in early trading. In the first nine months of the current financial year, about 11% of its order book was from the Middle East. The company was also the lowest bidder for big projects in this area.

ONGC and Oil India

Due to the war in West Asia, crude oil prices have increased, due to which government oil companies have benefited. Shares of Oil and Natural Gas Corporation (ONGC) and Oil India traded with gains of 3% to 4%. The increase in oil prices has increased the expectations of improvement in the earnings of these companies.

LT Foods and KRBL

Shares of rice exporter LT Foods fell by a sharp 8%. Shares of Chaman Lal Setia Exports are also trading with a decline of 4%. KRBL shares also saw a decline of up to 2%. The Middle East region is a big market for India’s Basmati rice exports. KRBL derives approximately 61% of its Basmati rice export revenue from the Middle East and GCC region. In FY2025, about 9% of LT Foods’ revenue came from exports to the Middle East.

indigo

Shares of the country’s largest airline IndiGo also fell by about 5%. Iran’s retaliation has affected areas like Dubai, Abu Dhabi and Doha, which are important transit hubs for the aviation sector. Apart from this, Dubai is also an important tourist destination for Indian travelers.

defense stocks

A rise was seen in the shares of Indian defense companies. Shares of Paras Defense and IdeaForge increased by 10%. Shares of Bharat Dynamics and Data Patterns also traded with a gain of 3% to 4%. With increasing tensions between Iran, Israel and the US, the demand for defense equipment and the parts required to make them is expected to increase, which will lead to a rise in these stocks.