Indian markets continue to fall despite strong GDP growth:Mounting US-Iran tensions put oil on boil

Indian stock markets opened deep in the red on Wednesday, 2 September, 2026, as mounting US-Iran tensions put oil on the boil. The Sensex 30 nosedived 745 points to 76,187 level. While Nifty 50 fell over 1% to 23,838 level. PM Modi called GDP growth a ‘herculean feat’ Prime Minister Narendra Modi had commended the people on Monday for the 7.8% GDP growth rate, noting that the feat was ‘herculean’ and accomplished despite wars, instability, and supply chain disruptions. Since Monday, the markets have only fallen. US strikes Iranian military bases Tensions between the US and Iran have escalated again. US President Donald Trump has stated that no agreement is needed with Iran. According to Trump, the US has almost complete control over the Strait of Hormuz and Iran’s economy is collapsing. Oil on boil Mounting US-Iran tensions fueled oil prices. The international benchmark, Brent crude oil prices shot up to $95 per barrel, at the time of writing this article. Deepa Jewellers IPO: Day 2 of Bidding Opens The public issue of Deepa Jewellers enters its second day today. The company aims to raise ₹459.72 crore through this IPO. Closing Date: Investors can bid for the IPO until September 3. Minimum Investment: Retail investors need a minimum of ₹14,868 to apply. Global Markets: Asian and US Indices Slide Global sentiment remains weak. Asian markets are trading sharply lower today, following a negative close in the US markets on September 1. Asian Markets Today: US Markets (Close on Sept 1): Institutional Activity: DIIs Buy Shares Worth ₹14,750 Crore Domestic Institutional Investors (DIIs) continue to show strong confidence in the Indian market, buying shares worth ₹14,750 crore over the last seven days. Conversely, Foreign Institutional Investors (FIIs) remain net sellers. (Figures in ₹ Crore) Previous Session Recap: Flat Close for Indian Markets On September 1, the Indian benchmark indices ended marginally lower after a range-bound trading session. The BSE Sensex dipped 13 points (0.02%) to close at 76,944. The NSE Nifty 50 fell 25 points (0.10%) to settle at 24,056.