Sensex, Nifty 50 | Stock Market Highlights: Indian equities saw a sharp sell-off on Wednesday, tracking mixed cues from Asian markets and rising uncertainty around the U.S.-Iran situation, particularly with the Strait of Hormuz blockade still in place.
Sensex settled 757 points or 0.95% lower at 78,516, while Nifty 50 ended the day 198 points or 0.8% lower at 24,378. Meanwhile, in intra-day deals, the Sensex plunged 831 points, or 1%, to an intraday low of 78,442.30, while the Nifty 50 declined 224 points, or 0.9%, to hit 24,352.90.
HUL, NTPC, and Eternal were the top gainers on Sensex, while HCL Tech, Infosys, M&M and TCS led the losses. Market breadth remained mixed with a defensive bias, as FMCG, realty, metals and midcap stocks advanced, while IT, financial and banking stocks continued to face selling pressure.
Investor sentiment remained cautious after U.S. President Donald Trump announced an indefinite extension of the Iran ceasefire, even as the U.S. continued its naval blockade of Iranian ports and the Strait of Hormuz remained largely shut. Diplomatic progress also appeared limited, with U.S. Vice President JD Vance postponing a planned visit to Pakistan for peace talks.
Global Markets Today
U.S. markets signalled a cautious rebound on Wednesday after President Donald Trump announced an indefinite extension of the Iran ceasefire, even as underlying geopolitical risks continued to cap optimism.
U.S. stock futures moved higher, with S&P futures rising 0.6% and Nasdaq futures gaining 0.7%. In Europe, the STOXX index edged up 0.1% in early trade, while Asia saw a more subdued trend, with MSCI’s Asia-Pacific index (excluding Japan) slipping 0.5% after hitting a seven-week high in the previous session.
The dollar traded mixed, with the dollar index hovering near 98.27. While close to a one-week high, the currency remains down about 1.5% so far in April after gaining roughly 2.3% in March.
Oil prices eased, slipping below the $100 mark. Brent crude futures fell 0.3% to around $98.16 per barrel after briefly nearing $100 earlier in the session.
Despite the ceasefire extension, investor confidence remained fragile. The Strait of Hormuz continues to remain largely closed, keeping supply concerns intact, while there has been no clear progress on restarting U.S.-Iran negotiations. Trump’s decision also appeared to be unilateral, with no immediate confirmation from Iran or U.S. ally Israel. Notably, Iran had already rejected a second round of talks prior to the announcement.
Adding to tensions, Trump said the U.S. Navy would continue its blockade of Iranian ports, suggesting that while the ceasefire may reduce immediate escalation risks, broader geopolitical uncertainty is far from resolved.
Stay tuned to this segment for the live updates on Indian stock market today.