The growing geopolitical tension stemming from the Middle East conflict has reflected in the Indian stock markets with both Sensex and Nifty opening in red.
The 30-share BSE Sensex fell 1,758.22 points (2.19 per cent) to 78,480.63 in early trade, while the 50-share NSE Nifty tanked 530.85 points (2.13 per cent) to 24,334.85.
Among the major laggards on the Sensex were Larsen & Toubro, Tata Steel, InterGlobe Aviation, UltraTech Cement, Adani Ports & SEZ, and Mahindra & Mahindra.
On the other hand, Infosys, HCL Technologies, and Tata Consultancy Services posted modest gains.
Other Asian markets are also trading negative today. South Korea's Kospi tumbled over 10 per cent. Japan's Nikkei 225, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were also quoting significantly lower.
Indian markets were closed on Tuesday on account of Holi, with trading suspended on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
On Monday, the first trading session since the conflict escalated in the Gulf region, Indian equities ended lower, although they recovered significantly from early-session losses.
The Sensex closed at 80,238.85, down 1,048.34 points or 1.29 per cent, while the Nifty settled at 24,865.70, declining 312.95 points or 1.24 per cent.