Geopolitical storm clouds over West Asia battered Indian stocks as markets reopened post-Holi. The BSE Sensex cratered 1,710 points to open at 78,528.82, well below 80,238.85. NSE Nifty mirrored the rout, opening 476.9 points down at 24,388.80 versus 24,865.70.
At about 9:27 AM, losses deepened: Sensex at 78,488.25 (-1,750.60 points, -2.18%), Nifty at 24,322.20 (-543.50 points, -2.19%). The trigger? Ongoing US-Israel-Iran clashes sparking global sell-offs and oil price spikes.
Except for Nifty IT, all indices flashed red. Sensex had 26 losers out of 30. Broader indices Nifty Midcap (-2.7%) and Smallcap (-2.8%) amplified the downturn.
Sector-wise, Auto and Metals bled most in Nifty; IT alone advanced. Nifty50’s biggest losers: Larsen & Toubro, Tata Steel, IndiGo, Shriram Finance, UltraTech Cement, JSW Steel. Gainers: Coal India, Infosys, Tech Mahindra, BEL, TCS, HCL Tech.
Sensex toppers included Infosys, Tech Mahindra, HCL Tech, TCS, BEL. Bottom-dwellers: L&T, Tata Steel, IndiGo, UltraTech Cement, Titan.
Internationally, Asian bourses fell for the third straight session, South Korea’s Kospi diving 7% on Middle East worries. US indices closed in negative territory. Brent crude lingered around $82/bbl after Trump’s Strait of Hormuz safety vow.
This opening salvo underscores how intertwined global risks are with local markets. Traders eye central bank responses and conflict updates for direction, with defensive plays in IT gaining favor.