Sensex and Nifty are headed for a weak start after the US-Iran flare-up shook global markets and lifted crude prices. The move has sharpened concerns over inflation, corporate margins and the near-term market mood in India.

As of 2:42 pm, the sell-off on Dalal Street intensified, with the benchmark BSE Sensex plunging 1,766.68 points, or 2.26%, to 76,414.04, while the NSE Nifty50 tumbled 553.35 points, or 2.27%, to 23,845.35 as escalating US-Iran tensions, a sharp spike in crude oil prices above $78 per barrel and weak global cues triggered broad-based selling across sectors.