Geopolitical jitters from the Middle East triggered a sharp sell-off in Indian equities on Wednesday, with benchmark indices closing sharply lower. The 30-share BSE Sensex tumbled 756.84 points (0.95%) to end at 78,516.49. NSE’s Nifty 50 mirrored the weakness, declining 198.50 points (0.81%) to 24,378.10.
The session was marked by heavy volatility. Sensex opened at 79,019.34 but nosedived 831 points to touch an intraday low of 78,442.30. Nifty opened higher at 24,470.85 before sliding 224 points to 24,352.90.
Smaller stocks outperformed majors, with Nifty Smallcap 100 up 1.13% and Midcap 100 advancing 0.19%. Positive performers included Nifty FMCG, media, realty, metals, PSU banks, and pharma sectors.
IT sector was the biggest casualty, crashing 3.89%, followed by financial services (-0.87%), private banks (-0.73%), and auto (-0.66%). Standout gainers in Nifty 50 were Tata Consumer, HUL, NTPC, Trent, Hindalco, Adani Enterprises, Eternal, and Nestle India, each gaining 1-3%.
Heavyweights like HCL Tech cratered 10.74%, while Infosys, M&M, TCS, Tech Mahindra, Bajaj Auto, Max Health, HDFC Life, and HDFC Bank saw declines of 1-3%. The pullback stems from US President Donald Trump’s indefinite extension of the US-Iran ceasefire amid persistent Strait of Hormuz blockade. Diplomatic efforts continue, but VP JD Vance’s scheduled Pakistan visit for peace negotiations has been deferred.
Oil supply disruptions via the key chokepoint have fueled fears of inflation and supply chain issues. Traders are eyeing upcoming earnings and policy cues for direction. Despite the dip, India’s long-term growth story intact, bolstered by robust domestic consumption.
