Stock Market Today: Sensex, Nifty Fall Over 1% as West Asia Tensions Weigh on Sentiment
Mumbai, April 2: Indian equity markets opened sharply lower on Thursday, with benchmark indices declining more than 1 percent amid escalating tensions in West Asia and cautious global cues.The BSE Sensex opened at 72,262, falling 872 points or 1.19 percent, while the Nifty 50 dropped around 300 points or 1.31 percent to 22,383.40. Both indices extended losses during early trade, reflecting broad-based selling pressure.
Broad-Based Selling Across Sectors
All major sectoral indices started the session in negative territory. Key sectors including banking, real estate, chemicals, automobiles, metals, and healthcare witnessed notable declines.Among the top losers in the Nifty 50 pack were Sun Pharma, IndiGo, Asian Paints, Shriram Finance, Larsen and Toubro, Axis Bank, Eternal, and Trent, indicating widespread weakness across sectors.
Geopolitical Uncertainty Weighs on Markets
Investor sentiment remained subdued after US President Donald Trump did not provide a clear roadmap to resolve the ongoing West Asia conflict, while issuing fresh threats. The lack of clarity has increased uncertainty in global markets, impacting risk appetite.Market Outlook Remains Volatile
Despite the sharp decline, the near-term outlook continues to show mild optimism, supported by easing crude oil prices, improving geopolitical signals, and consistent domestic institutional inflows.However, markets are expected to remain highly volatile and event-driven, with investors closely tracking crude oil price movements, foreign institutional investor activity, and further developments in West Asia.
Rupee Shows Signs of Stability
The Indian rupee remained under pressure but showed early signs of stabilization, aided by improving global risk sentiment.Global Market Cues Mixed
Overnight, US markets closed higher, with the S&P 500 gaining 0.72 percent and the Nasdaq rising करीब 1 percent, indicating some resilience in global equities.However, Asian markets traded sharply lower, with key indices such as the Nikkei, Hang Seng, and KOSPI falling up to 3 percent.
Oil Prices Rebound Sharply
Crude oil prices surged amid rising geopolitical tensions. Brent crude futures climbed 5.24 percent to $106.47 per barrel, while US WTI crude rose 4.5 percent to $104.64 as of early morning trade.FII Selling Continues, DIIs Provide Support
On Wednesday, foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 8,331 crore. Meanwhile, domestic institutional investors (DIIs) cushioned the downside by purchasing shares worth Rs 7,171.80 crore.The divergence in institutional flows highlights continued caution among foreign investors, even as domestic players provide stability to the market.
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