10 Indian Stocks Crash Up to 50% in 100 Days of US-Iran War as Nifty 50 Falls

The Quick Take

• Ten Indian stocks fell up to 50% in the 100 days following the onset of US-Iran armed conflict
• The Nifty 50 index posted significant losses as geopolitical risk and oil price volatility weighed on earnings
• Aviation and chemicals bore the steepest declines as jet fuel and feedstock costs ballooned on elevated crude

A curated analysis by the Economic Times identified ten Indian equities that lost up to half their market value in the 100 days following the outbreak of US-Iran armed conflict, a period marked by extreme oil price volatility and heightened risk aversion among foreign institutional investors. The Nifty 50 benchmark index also moved materially lower over the same window, reflecting broad-based pressure on Indian corporate earnings expectations.

Among the hardest-hit sectors were aviation, where jet fuel costs surged in line with elevated crude oil prices, and petrochemical and specialty chemical companies whose feedstock costs ballooned. Consumer-facing businesses tied to discretionary spending also lagged as higher energy costs fed through to retail inflation and squeezed household budgets. The declines were particularly sharp for mid- and small-cap names with limited ability to pass through cost increases.

Market analysts noted the data underscores how geopolitical shocks originating far outside India's borders can create outsized impacts on domestically-focused businesses through the oil price channel. While some beaten-down names may attract bargain hunters if tensions de-escalate, the Economic Times analysis suggests caution about catching falling knives in sectors structurally exposed to energy cost cycles. A sustained reduction in crude oil prices remains the key catalyst for a meaningful recovery in these names.

Synthesized from 1 source.