Indian equities started the day on a weak note Thursday, pressured by faltering consumer stocks and divergent international cues. By 9:21 AM, Sensex was down 625 points (0.80%) at 77,891, and Nifty lost 162 points (0.67%) to settle at 24,215. The downturn was spearheaded by consumer durables, making Nifty Consumer Durables the biggest sectoral loser.
A broad-based decline gripped Nifty Financial Services, Services Sector, Private Banks, PSU Banks, Auto, IT, and Realty indices, all flashing red. Bright spots emerged in Pharma, Energy, Healthcare, Defence, and PSE segments, which traded positively. Broader markets were uneven: Nifty Midcap 100 fell 166 points (0.28%) to 60,035, but Nifty Smallcap 100 inched up 7 points to 17,832.
Sensex drags included M&M, IndiGo, Eternal, Asian Paints, ICICI Bank, Bajaj Finance, Ultratech Cement, Titan, Infosys, Bajaj Finserv, Maruti Suzuki, HDFC Bank, Trent, and Tata Steel. Only Power Grid and Sun Pharma posted gains among blue-chips.
Overnight, US markets ended bullishly with Dow up 0.69% and Nasdaq climbing 1.64%, but Asian peers like Tokyo, Bangkok, Seoul, Jakarta, Hong Kong, and Shanghai tumbled at open. Oil markets heated up as Brent crude crossed $100/barrel, fueled by Iran-US strife over the Strait of Hormuz.
Iran’s Speaker Ghalibaf declared the strait remains closed due to alleged US blockade, terming it a ceasefire breach targeting Iranian ports. He insisted on US removal of the blockade for any comprehensive truce. This escalation is stoking inflation fears and volatility in energy-dependent economies like India.
Market participants are bracing for prolonged uncertainty, monitoring oil trajectories and global risk appetite closely.
