Indian stock markets opened sharply lower on Monday, mirroring a global sell-off triggered by surging oil prices, escalating geopolitical tensions in the Middle East and a sharp fall in the rupee. The BSE Sensex fell more than 2,400 points in early trade, while the Nifty 50 dropped over 700 points, reflecting widespread selling across sectors.. Traders react after fluctuations in stock market, in Kolkata. Both Sensex and Nifty fell sharply on March 9, 2026 (PTI). The sharp decline comes as global markets tumble and crude oil prices surge to their highest levels since 2022.. Here are the key reasons behind the sharp fall in Indian shares. 1. Oil prices surge amid Middle East conflict. The biggest trigger for the market decline is the massive spike in crude oil prices after the United States–Israel war with Iran intensified.. Brent crude jumped more than 25 per cent to around $116 per barrel, while US benchmark West Texas Intermediate also surged above $114 per barrel.. Oil prices have soared as the conflict threatens energy production and shipping routes across the Middle East. Tanker traffic through the Strait of Hormuz, a crucial passage that carries roughly 20 percent of global oil supply, has largely halted, raising fears of prolonged disruptions.. Supply concerns have worsened after Iraq and Kuwait began cutting oil output, while earlier liquefied natural gas reductions from Qatar added to fears of a broader energy shock.. 2. India’s heavy dependence on imported crude. India is particularly vulnerable to rising oil prices because it imports more than 85 per cent of its crude oil requirements.. Market expert Ajay Bagga told news agency ANI the oil shock could significantly hurt the economy. “The oil price hit to the Indian GDP, current account deficit and inflation will be huge given that India meets more than 85 per cent of its crude oil requirements from imports.”. Higher crude prices are expected to push up petrol, diesel, cooking gas and aviation fuel prices, increasing costs for businesses and consumers.. Check city-wise Petrol and Diesel prices here. This raises concerns about inflation, fiscal pressure and slower economic growth, which typically weigh heavily on stock markets.. 3. Rupee falls close to all-time low. The Indian rupee also came under severe pressure, adding to investor worries. The currency plunged 46 paise to around 92.28 against the US dollar in early trade, moving close to its all-time intra-day low of 92.35 recorded earlier this month.. Forex traders said the rupee weakened due to rising crude oil prices, a strengthening US dollar, heavy foreign investor outflows and weak domestic equity markets.. The dollar index rose about 0.66 per cent, reflecting strong global demand for the US currency as investors seek safe-haven assets during periods of uncertainty.. Analysts warned that the rupee could weaken further toward 93 per dollar if crude prices remain above $100.. 4. Global markets plunge, dragging India lower. I 

 Parliament Budget session LIVE: The opposition has also demanded a broader discussion on India’s foreign policy, the India-US trade deal, and other domestic issues.. Parliament budget session LIVE updates: The second phase of the budget session is set to resume on Monday amid expectations of heated debates and political confrontations, with the Lok Sabha scheduled to take up an opposition-sponsored no-confidence motion against Speaker Om Birla. Key issues that are likely to dominate the session include the ongoing West Asia crisis, India-US trade relations, and disputes over parliamentary conduct.. The second half of the session will run until April 2 and is reportedly expected to focus on crucial legislative business, including the passage of the Finance Bill, 2026 and discussions on Demands for Grants for various ministries.. Opposition moves no-confidence motion against Om Birla. One of the central developments in the Lok Sabha will be the opposition-backed resolution seeking the removal of Speaker Om Birla. Several opposition leaders submitted the notice alleging that Birla acted in a “blatantly partisan” manner while conducting proceedings in the House.. Around 118 opposition MPs reportedly signed the motion, accusing the Speaker of favouring the ruling Bharatiya Janata Party (BJP) and allegedly preventing Leader of the Opposition Rahul Gandhi from speaking during earlier proceedings.. The resolution will be taken up only if the House grants permission to move it. However, given the BJP-led National Democratic Alliance’s majority in the Lok Sabha, the motion is widely expected to be defeated.. Prime Minister Narendra Modi has already expressed support for Birla, stating that the Speaker has remained committed to the Constitution and parliamentary democracy while treating all members fairly.. Debate likely amid lack of deputy speaker. The procedural handling of the motion may pose a challenge because the Lok Sabha currently does not have a deputy speaker. Under normal parliamentary rules, the deputy speaker would preside over proceedings during a motion against the speaker.. In the absence of a deputy speaker, Birla may appoint a member from the panel of chairpersons to preside over the debate, with senior BJP MP Jagdambika Pal being among the likely choices, HT earlier reported.. Historically, only three Lok Sabha speakers, namely G V Mavlankar in 1954, Hukam Singh in 1966 and Balram Jakhar in 1987, have faced no-confidence motions, all of which were eventually defeated.. Jaishankar to brief Lok Sabha on West Asia crisis. External Affairs Minister S Jaishankar is scheduled to make a statement in the Lok Sabha regarding the “situation in West Asia”.. The statement comes amid escalating tensions following joint military strikes by the United States and Israel on Iran on February 28 that reportedly killed Iran’s Supreme Leader Ayatollah Ali Khamenei. In retaliation, Tehran launched counter-strikes targeting American military bases 

 A man in Jharkhand’s West Singhbhum district carried his dead infant in a cardboard box from a government hospital to his house, allegedly because he was denied an ambulance, the baby’s father told the media on Sunday.. Ramkrishna Hembram said he carried the body for 20 km to his house in Bandgaon Block.. Hospital authorities, however, denied the allegations, stating that neither the father nor anyone else from his family had requested an ambulance.. Ramkrishna Hembram, a resident of Bangrasai village, had admitted his pregnant wife Rita Tiria to the Chakradharpur sub-divisional hospital on Thursday. She gave birth to the baby on Saturday, but it died shortly after. “The doctors didn’t take proper care during and after delivery, due to which the baby died. After its death, health workers kept pressing us to remove the dead body. We demanded an ambulance or any other vehicle from the hospital to take the dead body back to our village (in Bandgaon Block), but they refused. Then, I put my baby in a leftover cardboard box and left for my village,” Hembram told the media on Sunday.. The doctor in charge of the Chakradharpur sub-divisional hospital, Dr Anshuman Sharma, however, denied the allegations and said, “Neither the father of the dead newborn baby nor anyone from his family requested me or any authority of the hospital for an ambulance. Had they approached us, we would have surely arranged an ambulance for them,” Dr Sharma said.. Chakradharpur sub-divisional officer Shruti Rajalakshmi said the district authority is conducting an inquiry into matter. “Appropriate action will be taken soon,” she said.. The West Singhbhum civil surgeon could not be contacted as the post had been lying vacant for the past eight days. 

 The Indian embassy in Riyadh clarified on Monday that no Indian national was killed after a projectile fell on a residential area in Saudi Arabia the previous day, adding that the mission is in touch with Saudi authorities.. Earlier, Saudi authorities had said that the two individuals killed in the incident in Al-Kharj city included an Indian and a Bangladeshi national. (REUTERS). Earlier on Sunday, a Saudi Civil Defense official, said in a statement that the two individuals killed in the incident in Al-Kharj city included an Indian and a Bangladeshi national.. “It is a matter of relief that there has been no Indian fatality in the unfortunate incident at Al Kharj yesterday evening,’ the Indian embassy in Riyadh said in a post on X. Follow Dubai Abu Dhabi news live updates. The Indian mission said it has been in touch with the concerned Saudi authorities regarding this issue.. “Counsellor (CW) Shri Y. Sabir visited Al Kharj last night and met the injured Indian national involved in this unfortunate incident. He is currently receiving treatment at a government hospital in Al Kharj,” it added.. In a social media post earlier, the Saudi authorities stated that the Civil Defense responded to the fall of a military projectile on a residential location belonging to a maintenance and cleaning company in Al-Kharj Governorate.. “The incident resulted in the death of two individuals of Indian and Bangladeshi nationalities, and injuries to 12 Bangladeshi residents, in addition to material damage,” the authorities added.. Track latest updates on US Iran war. The Saudi spokesperson further stated that the attempts to target civilian infrastructure constitute a blatant violation of international humanitarian law. “The spokesperson stressed that attempts to target civilian facilities constitute a blatant violation of international humanitarian law, adding that the approved procedures in such cases have been implemented,” the statement added.. On Sunday, the the Indian embassy issued an advisory for its nationals, urging them to continue keeping vigil and adhere to safety guidelines. It asked the Indian nationals to follow advisories issued by local authorities sincerely.. “In view of the prevailing situation in the region and the Kingdom of Saudi Arabia, all Indian Nationals currently in the Kingdom of Saudi Arabia are advised to continue to remain vigilant, strictly adhere to the safety guidelines prevalent in the Kingdom of Saudi Arabia, and follow advisories issued by the local authorities and the Embassy,” the embassy said in a post on X.. The latest development comes against the backdrop of the escalating tensions in the Middle East, with the conflict widening with each day. Iran and the United States continue to remain at loggerheads as air strikes and attacks occur persistently.. Iranian attacks have heavily targeted the United Arab Emirates, Saudi Arabia, and other Gulf nations, as the war expands.. Meanwhile, the US State Department said on Sunda 

 The political slugfest over President Droupadi Murmu’s West Bengal visit escalated on Sunday, with the Union home ministry seeking a report from the state government over the alleged protocol breach, Prime Minister Narendra Modi sharpening his attack on the Trinamool Congress (TMC), and chief minister Mamata Banerjee hitting back.. After the PM Modi’s jibe, Mamata Banerjee hit back, accusing the Prime Minister of insulting India’s constitutional head. (ANI/PTI). In a letter to West Bengal Chief Secretary Nandini Chakravorty, Union home secretary Govind Mohan sought a response by 5pm on Sunday regarding alleged violations of the “Blue Book” rules during the President’s Saturday visit to a tribal event in north Bengal.. The “Blue Book” is a confidential document that outlines security and protocol rules for the President, vice-president, the Prime Minister, and their families.. ALSO READ | ‘Bengal being targeted, no breach of protocol’: Mamata Banerjee reacts to ‘insult to President’ row. “The home secretary has sought a response on the absence of the CM, the chief secretary and the director general of police to receive the President, which is a serious violation of the Blue Book rules. The Centre has taken note of the fact that only the Siliguri mayor was present to receive her,” said an officer in Delhi aware of the details. It was not immediately clear if the TMC government submitted a reply.. In Delhi, Modi stepped up his attack on the Bengal government, accusing it of disrespecting the President. “This is not only an insult to the President but also an insult to the Constitution of the country and the great traditions of democracy. It is an insult to a personality who has achieved great heights through a life of struggle,” he said during the inauguration of multiple infrastructure projects worth ₹33,500 crore.. Banerjee hit back, accusing the Prime Minister of insulting India’s constitutional head. At a sit-in protest in Kolkata over the SIR exercise, she held up a photograph showing Modi seated while the President stood next to him.. “The picture shows that the PM is seated when the President is standing. We never do that. It is the BJP which carries the culture of insulting the President, not us,” she claimed, displaying the photograph as “evidence”. The photo was of a March 2024 event when President Murmu awarded LK Advani the Bharat Ratna at his New Delhi residence, according to news agency PTI.. ALSO READ | ‘Nari Shakti will not forgive’: PM Modi slams TMC, accuses Mamata govt of ‘insulting’ President Murmu. On Saturday, Murmu expressed disappointment over the venue change of the 9th International Santhal Conference, questioned the development of tribal people in the state, and reproached Banerjee over her absence in a rare rebuke of an elected government by the constitutional head.. Her remarks triggered a bitter face-off, with Modi accusing the TMC of “crossing all limits” and insulting th