Mumbai’s bustling stock exchanges opened in deep red on Wednesday, shaken by escalating tensions in West Asia. The BSE Sensex plunged over 1,700 points from its previous close of 80,238.85, starting the day at 78,528.82. Similarly, the NSE Nifty shed 476.9 points to open at 24,388.80.
By 9:27 AM, the Sensex was down 1,750.60 points or 2.18%, trading at 78,488.25, while Nifty dropped 543.50 points or 2.19% to 24,322.20. This sharp decline came after a holiday for Holi on Tuesday, as global markets reeled from the US-Israel-Iran conflict driving oil prices higher and triggering widespread sell-offs.
Almost all Nifty indices, except IT, were in the red. Of Sensex’s 30 stocks, 26 traded lower. Broader markets fared worse, with Nifty Midcap down 2.7% and Smallcap slipping 2.8%.
Auto and Metal sectors led the losses in Nifty, while IT was the sole gainer early on. Top Nifty50 losers included Larsen & Toubro, Tata Steel, IndiGo, Shriram Finance, UltraTech Cement, and JSW Steel. In contrast, Coal India, Infosys, Tech Mahindra, BEL, TCS, and HCL Tech posted gains.
Sensex gainers were dominated by IT heavyweights like Infosys, Tech Mahindra, HCL Tech, TCS, and BEL. Losers featured L&T, Tata Steel, IndiGo, UltraTech Cement, and Titan.
Global cues were grim too. Asian markets extended losses for a third day, with South Korea’s Kospi tumbling 7% amid Middle East geopolitical fears. US markets closed lower despite some recovery attempts. Oil prices hovered around $82 per barrel, steady after US President Donald Trump’s assurances on securing the Strait of Hormuz.
Investors are bracing for more volatility as West Asia’s unrest threatens energy supplies and global growth. Eyes are now on upcoming policy signals and oil trends to gauge the recovery path for Indian equities.