Indian stock markets opened sharply lower on Thursday, with the BSE Sensex falling below 76,000 and the NSE Nifty50 dropping over 266 points in early trade. The declines followed escalating tensions in the Middle East and rising crude oil prices, mirroring a global sell-off.
The BSE Sensex was trading at 75,912.98 as of 9:17 AM IST, down 950.73 points, or 1.24 percent. The NSE Nifty50 was at 23,600.70, a decrease of 266.15 points, or 1.12 percent. All sectors opened in the red, with Nifty Auto, Media, Consumer Durables, and Realty experiencing declines of over 2 percent each, according to market updates.
Broader market indices also suffered losses. The Nifty Midcap 100 was down 1.67 percent, while the Nifty Smallcap 100 fell 1.87 percent.
Within the Sensex constituents, Eternal, IndiGo, Mahindra & Mahindra, Titan, L&T, and ICICI Bank were among the leading decliners as of 9:21 AM.
The rupee opened 25 paise lower against the US dollar at 92.29, compared to Wednesday’s close of 92.04. This depreciation adds to the economic pressures contributing to market volatility.
The downturn comes amid reports of Iran firing upon commercial ships and targeting Dubai International Airport on Wednesday, escalating regional tensions. These actions, described as an attempt to disrupt oil-rich Persian Gulf shipping lanes, have fueled global energy concerns and prompted American and Israeli airstrikes in response, according to reports.
Investors are also focused on corporate actions. Shares of Indian Railway Finance Corporation (IRFC), RailTel Corporation of India, Toss The Coin, eClerx Services, Frontier Springs, and Hindusthan Urban Infrastructure are expected to be in focus due to announcements regarding dividends, bonus issues, and stock splits.
Ambit Institutional Equities’ recent analysis suggests increasing competition in the affordable home loan market, with lenders offering reduced or waived upfront charges to boost volumes. The report also indicates potential strain on underwriting standards.
As of 9:27 AM IST, the Nifty 50 index stood at 23,595.15, down 271.70 points, or 1.14 percent. The Nifty 50’s 1D range was between 23,556.32 and 23,690.85.
