- Indian stock indices Sensex and Nifty fell significantly.
- US-Iran tensions and elevated oil prices create market uncertainty.
- Global markets rally on strong earnings, despite geopolitical risks.
The Indian benchmark indices crashed on Thursday as the Sensex tumbled over 852 points to settle at 77,664 and the Nifty declined more than 205 points to close trade at 24,173 at 3:30 PM.
In the 30-share BSE Sensex, among the top gainers were stocks such as Adani Ports, L&T, Sun Pharmaceuticals, Bharti Airtel and Bharat Electronics. Meanwhile, the laggards included stocks like ITC, Hindustan Unilever, Titan, UltraCement and PowerGrid.
In the broader markets, the Nifty 100 index fell 0.93 per cent as volatility remained high. Sectorally, the Nifty Pharma index jumped 2.36 per cent and the Nifty Auto declined 2.35 per cent.
Previously, during the early morning session, the BSE Sensex plummeted more than 750 points and slipped near 77,750, while the NSE Nifty50 touched 24,150, after tanking a little over 200 points to start the trading session at 9:15 AM.
US-Iran Tensions Continue To Weigh
Geopolitical developments remain at the forefront of investor concerns as tensions between the United States and Iran persist. While a ceasefire continues, the absence of progress in negotiations has kept uncertainty elevated.
Iran’s reluctance to engage in further talks and ongoing tensions around the Strait of Hormuz have heightened fears of prolonged disruption. The strategic waterway, crucial for global energy supplies, remains a key flashpoint influencing market sentiment.
Oil Prices Stay Elevated, Keeping Markets On Edge
Crude oil prices continued to hover above the $100 per barrel mark, supported by supply concerns stemming from disruptions in the Gulf region. Brent crude traded around $102 per barrel, reinforcing worries about inflationary pressures and potential headwinds for import-dependent economies such as India.
Global Markets Rally On Earnings Strength
Despite geopolitical risks, global equities have remained resilient. Wall Street indices closed higher overnight, driven by strong corporate earnings and investor optimism around economic fundamentals.
The S&P 500 and Nasdaq Composite both advanced, while Asian markets also saw strong momentum earlier in the session, with key indices in Japan and South Korea touching fresh highs before paring gains.
Previous Session: Markets Snap Winning Streak
On Wednesday, domestic equities ended sharply lower, snapping a three-day rally amid heavy selling in IT stocks and rising crude oil prices.
The Sensex declined 756.84 points to close at 78,516.49, while the Nifty dropped 198.50 points to settle at 24,378.10. Weak global cues, foreign fund outflows, and renewed geopolitical concerns weighed on investor sentiment.
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