Stock Market Live Updates: The Nifty50 and the Sensex opened sharply lower as oil prices spiked following reports that the US Navy may block ships from Iranian ports after talks failed.
As of 12:00 PM, the Nifty50 was trading 1.07 per cent or 257.25 points down at 23,789.10, and the Sensex was trading 1.12 per cent or 865.74 points down at 76,703.08.
Broader markets underperformed the benchmarks, with the Nifty MidCap and Nifty SmallCap indices falling 2.10 percent and 2.25 percent, respectively.
On the sectoral front, the Nifty PSU Bank and Nifty Realty indices were the biggest losers, while the Nifty Pharma index showed relative resilience, declining the least among sectoral indices.
Asian markets are also in the red. Japan’s Nikkei 225 (JP225) is among the biggest losers in early hours, down around 0.8%, reflecting pressure from rising oil prices and global uncertainty. Hong Kong’s Hang Seng (HK50) is also trading lower, falling around 1%, indicating selling across financial and tech stocks. Singapore’s STI and Malaysia’s KLCI are also in the red, pointing to a broader cautious mood across Southeast Asia.
China, however, is showing some resilience. The CSI 300 is marginally higher, while the Shanghai Composite is largely flat, suggesting selective buying support in mainland markets despite global tensions.
Markets are likely to shift back into a risk-off mode. According to Ponmudi R, CEO of Enrich Money, elevated crude prices, geopolitical uncertainty, and persistent FII outflows will act as key overhangs.