Sensex plunged 1,649.78 points, or 2.06 per cent, to 78,589.07 at 9:15 am, after opening at 78,528.82 against its previous close of 80,238.85. Nifty 50 tumbled 465.45 points, or 1.87 per cent, to 24,400.25
Indian equity benchmarks opened sharply lower on Wednesday, mirroring weak global cues and heavy selling in frontline banking and infrastructure stocks.
The 30-share BSE Sensex plunged 1,649.78 points, or 2.06 per cent, to 78,589.07 at 9:15 am, after opening at 78,528.82 against its previous close of 80,238.85. The index briefly hovered near the day’s low in early trade, signalling broad-based risk aversion.
The broader Nifty 50 tumbled 465.45 points, or 1.87 per cent, to 24,400.25. The index hit an intraday low of 24,358.65, with market breadth decisively negative — 44 stocks declining and just 6 advancing.
Banks, infra heavyweights drag
Financial stocks bore the brunt of the sell-off, weighing heavily on both benchmarks.
Among top laggards on the Sensex pack, HDFC Bank slumped nearly 4 per cent, while ICICI Bank and Axis Bank fell up to 3.6 per cent in early deals.
Infrastructure major Larsen & Toubro emerged as the top index drag, plunging over 6 per cent, amplifying losses on the 30-share gauge.
Index heavyweight Reliance Industries declined over 2 per cent, adding to the downside pressure. Other notable losers included Mahindra & Mahindra, IndiGo, UltraTech Cement and Bajaj Finance.
Limited pockets of resilience
A handful of stocks offered some support. Bharat Electronics gained over 1 per cent in early trade. Infosys, ONGC and TCS also traded in positive territory, though gains were modest and insufficient to offset the broader weakness.
Market data showed total traded volume on the Nifty at over 5,192 lakh shares, with a traded value exceeding Rs 41,000 crore in the opening minutes — pointing to heavy participation amid the slide.
Iran crisis deepens uncertainty
Investor sentiment was jolted after sources cited by Iran International claimed that Iran’s Assembly of Experts had reportedly chosen Mojtaba Khamenei, son of Supreme Leader Ali Khamenei, as the next Supreme Leader following his father’s reported death in joint US-Israeli strikes. Iranian state media has not confirmed the development.
The alleged decision, said to have been taken under pressure from the Islamic Revolutionary Guard Corps (IRGC), signals a potentially greater role for the Guards in Iran’s political structure — a factor that markets fear could harden Tehran’s regional posture.
The geopolitical situation continued to deteriorate overnight. Iran reportedly launched fresh strikes on Israeli and US-linked targets in the Gulf. Qatar said it intercepted two Iranian SU-24 fighter jets, along with seven ballistic missiles and five drones. Saudi Arabia also reported intercepting cruise missiles and drones near Riyadh.
Meanwhile, oil prices surged nearly 4.7 per cent to their highest levels since January 2025 amid fears of supply disruptions. European gas prices spiked more than 20 per cent after Qatar temporarily halted LNG production, adding to energy market volatility.
The United States has authorised non-emergency staff to leave Saudi Arabia and Oman, while the US Senate is set to vote on a War Powers resolution seeking to limit further military action against Iran.
End of Article
Leave a Reply