Market Report- Markets open with sharp cut. Oil, auto in focus

The benchmark indices were trading sharply lower on March 02, tracking losses in global equities as sudden escalation of conflict in the Middle East, specifically involving US and Israeli military strikes on Iran. All sectoral indices open in the red. At 9.27 am, Sensex slipped by 1.15% or 924 points to 80,353. The Nifty dipped by 1.06% or 272 points to 24,914.

Rupee Check-

• Rupee weakens 27 paise at open against US dollar amid rising geopolitical tensions, at 91.25/$.

Global Update-

• Asian airline shares fell as oil surged on Iran escalation.
• US futures dropped as investors sought safe-haven assets.
• European markets finished February 27, 2026, session mixed as traders parsed through several earnings reports and economic data at the end of the week.