New Delhi, 24 March (H.S.):

Domestic bourses experienced sharp volatility Tuesday driven primarily by conflicting US-Iran statements on West Asia conflict crude oil price fluctuations and resulting uncertainty as markets opened nearly 2 percent higher only to plunge before recovering late.

Trading kicked off strong on hopes of de-escalation after President Trump delayed Iran power plant strikes and hinted at talks but Irans rejection of negotiations insistence on US concessions and reports of potential UAE Saudi involvement sparked early selling with Sensex shedding 900 points from open Nifty 130 plus within 15 minutes.

Buyers regrouped pushing Sensex up 1793 points Nifty 544 mid-afternoon on Iranian Supreme Leader Mojtaba Khameneis reported readiness for backchannel talks though profit booking trimmed peaks.

Khurrana Securities CEO Ravi Chandar Khurrana attributed initial optimism to Trumps signals countered by Irans defiance while TNV Financials Tarkeshwar Nath Vaishnav cited global uncertainty from dueling rhetoric late relief rally and routine end-day profit taking with oil volatility hitting import-dependent India hard throughout.

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Hindusthan Samachar / Jun Sarkar