A sudden and severe military escalation in West Asia shattered the global “peace trade” on Monday, June 22, 2026, triggering an aggressive panic liquidation that wiped clean Dalal Street’s multi-day winning streak. Reversing last week’s fragile diplomatic progress, the NSE Nifty 50 plummeted 278.80 points to close deeply in the red at 23,824.10, while the BSE Sensex suffered an explosive 893.39-point bloodbath to settle at 76,200.68. The severe sell-off was ignited over the weekend after the U.S. military launched targeted airstrikes against three Iranian nuclear installations, invalidating the short-lived Islamabad Memorandum and sending emergency tremors through international energy corridors. Compounding the geopolitical risk premium, India’s frontline IT software exporters faced a secondary rout after global outsourcing giant Accenture issued a weak near-term revenue growth outlook, immediately sending tech heavyweights TCS, Infosys, and Tech Mahindra sliding over 1%. While Brent crude held stubbornly above $78 a barrel on fresh maritime threats to the Strait of Hormuz, Petroleum Minister Hardeep Singh Puri moved to soothe domestic nerves, clarifying that state-run oil marketing companies have systematically diversified import lines and secured robust multi-week crude inventories to insulate consumers from sudden supply disruptions.