Stock Market today: Logistics as wekk as port stocks declined up to 5% in intra-day deals on Monday, March 2, as global tensions flared sharply over the weekend. The United States and Israel launched large-scale military operations inside Iran, with reports indicating that Iran’s Supreme Leader, Ayatollah Ali Khamenei, was killed during the initial wave of attacks. The sudden escalation unsettled financial markets worldwide, sparking a rush into safe-haven assets and triggering sharp swings across commodities, currencies and equities.
The situation deteriorated rapidly over the weekend as joint US-Israeli strikes hit multiple strategic and military targets across Iranian territory. In response, Tehran launched retaliatory missile barrages directed at Israel and American military facilities across the region. Several sites in Qatar, the United Arab Emirates, Kuwait and Bahrain were reportedly targeted, raising concerns that the confrontation could evolve into a wider regional conflict with far-reaching economic consequences.
Gujarat Pipavav Port and JSW Infra crashed 4.7% each while Adani Ports lost 4.6%.
Meanwhile, among logistic stocks, Delhivery tanked 10% andBlue Dart Express lost nearly 7%. Meanwhile, Container Corporation of India shed 6.8% to its 52-week low of ₹461.85, whereas, TCS was down 5%.
more to come…