India, March 9 -- India's stock market slumped at the open today, as the widening Iran war in West Asia sends crude oil prices soaring, threatening to reignite domestic inflation and strain the rupee.

The 30-share BSE Sensex fell as much as 3.16%, or 2,494.35 points, to 76,424.55 points, while the wider NSE Nifty 50 shed up to 2.8% to trade below 23,800.

The market turmoil is being driven by a violent spike in energy markets. Brent crude oil prices have surged enough to test $120/barrel levels.

"Big oil importers like India will be hit hard if the Iran war lingers long and crude price remains high," V.K. Vijayakumar, chief investment strategist at Mumbai-based Geojit Investments Ltd., told Hindustan Times over email. "The market will p...