The Indian equity markets kicked off Wednesday with a rude jolt, mirroring global jitters over the intensifying US-Israel-Iran standoff in West Asia. Post-Holi holiday, BSE Sensex opened 1,710 points lower at 78,528.82 against Tuesday’s close of 80,238.85. Nifty followed suit, down 476.9 points to 24,388.80 from 24,865.70.
Around 9:27 AM, Sensex had slid further to 78,488.25, a 2.18% or 1,750.60-point drop. Nifty was at 24,322.20, off by 2.19% or 543.50 points. Surging oil prices and foreign investor pullouts fueled the bloodbath.
Nifty’s sectoral indices were mostly battered, sparing only IT. Sensex saw 26 of 30 components in decline. Midcap and Smallcap indices tanked 2.7% and 2.8% respectively, signaling broad-based pain.
Nifty Auto and Metal indices suffered the steepest falls. IT bucked the trend with early gains. Among Nifty50 laggards: L&T, Tata Steel, IndiGo, Shriram Finance, UltraTech Cement, JSW Steel. Bright spots were Coal India, Infosys, Tech Mahindra, BEL, TCS, HCL Technology.
In Sensex, Infosys, Tech Mahindra, HCL Tech, TCS, and BEL shone brightest. Heavyweights L&T, Tata Steel, IndiGo, UltraTech Cement, and Titan dragged the index down.
Overseas, Asia’s downturn persisted, Kospi cratering 7% on geopolitical risks. Wall Street ended weaker. Crude stabilized near $82/barrel following Trump’s Hormuz security pledge.
As markets digest these shocks, analysts warn of prolonged uncertainty unless West Asia de-escalates. Domestic factors like corporate earnings may offer some cushion, but oil’s trajectory remains key.