Indian equities opened lower on Thursday, pressured by renewed Middle East flare-ups that sent oil prices soaring. After a robust rally the prior day, weak international cues—fueled by Iran’s claims of US ceasefire violations—dampened sentiment. Brent crude’s sharp rise amplified concerns over energy costs and inflation for India, a major oil importer.
At the opening bell, Sensex tumbled 243.57 points to 77,319.33 from 77,562.90. Nifty dropped 88.3 points to 23,909.05 off 23,997.35. Trading around 9:40 AM saw Sensex deepen losses to 77,118.49 (-444.41 points, -0.57%), with Nifty at 23,895.90 (-101.45 points, -0.42%).
Midcap and Smallcap indices edged down 0.13% and 0.02%, respectively. Metals and Pharma sectors held firm, contrasting IT’s 1.17% plunge—the hardest hit. Declines also hit Auto, Financial Services, Banking, and Realty.
Nifty 50’s biggest decliners were Infosys, L&T, Eternal, Jio Financial, HCL Tech, Indigo, and Shriram Finance. Gainers featured Hindalco, Max Health, NTPC, Bajaj Auto, BEL, and Power Grid.
Global oil benchmarks rallied: Brent up 3.31% to $97.89/barrel, WTI +4.2% to $98.38. Tensions escalated post-Trump’s ceasefire call, with Israel’s massive Lebanon strikes causing heavy casualties and Iran’s fresh threats. Iran’s key negotiator suggested US peace talks are now untenable, while the White House pushes for dialogue.
Tehran leveled breach accusations at Israel, persisted with Gulf attacks, and restricted Hormuz Strait passage—a critical 20% of global oil flow. Any prolonged blockade could stoke worldwide inflationary pressures.
Market watchers recommend a defensive stance: accumulate on pullbacks to supports, steer clear of high-level bets. With geopolitical shadows looming large, traders are bracing for heightened volatility, as yesterday’s optimism gives way to prudence.
