Indian equity benchmarks opened sharply lower on Thursday, with the BSE Sensex crashing over 650 points and the NSE Nifty50 tanking more than 200 points as of 9:16 AM. According to The Hindu BusinessLine, the Sensex opened at 77,014.21 and was trading at 76,849.33, down 647.03 points (0.83%) as of 9:16 AM, while the Nifty 50 opened at 23,996.95 and fell to 23,965.10, a drop of 212.55 points (0.88%). In the pre-open session around 9:03 AM, the Sensex slipped 239.01 points, or 0.31 per cent, to 77,257.35, while the Nifty declined 73.95 points, or 0.31 per cent, to 24,103.70. Early indicators suggest a soft opening with GIFT Nifty trading lower at 24,162, down 89.50 points. Markets are closed on Friday for Maharashtra Day, raising the risk of overnight positioning ahead of a long weekend.
The decline comes amid weakness in global equities and cautious investor positioning after the US Federal Reserve delivered a hawkish pause, signalling a more divided outlook on interest rates. As reported by ABP Live, the US Federal Open Market Committee kept interest rates unchanged in the 3.5-3.75 per cent range, in line with expectations. However, the 8-4 split among policymakers surprised markets, raising concerns about the future rate trajectory and indicating persistent inflation risks. This has weighed on global risk appetite and triggered caution across equities.
Markets across Asia-Pacific followed the weak global trend, reflecting subdued sentiment. According to ABP Live, Japan's Nikkei 225 declined over 1 per cent, while Hong Kong's Hang Seng also traded lower. South Korea's Kospi was largely flat, indicating a mixed but cautious regional outlook. Overnight, US markets ended on a subdued note, with the Dow Jones and S&P 500 closing lower, while the Nasdaq managed marginal gains.
Crude oil prices jumped sharply, adding to market concerns as Brent crude briefly breached $120 per barrel before easing to the $107–110 range, driven by supply disruptions linked to the blockade and closure of the Strait of Hormuz. As reported by ABP Live, the surge came after reports suggested that the US rejected Iran's peace proposal and intensified its stance on the Strait of Hormuz blockade. Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, warned: "Brent crude at $120 threatens to worsen India's macros; the downside risk to growth and upside risk to inflation will rise if crude price remains elevated at this level." Elevated oil prices remain a key macro risk for India, given their impact on inflation, currency stability, and corporate profitability.
Among Nifty 50 gainers, Bajaj Finance led with a 2.53% rise from ₹930.00 to ₹953.55, followed by ONGC climbing 1.99% to ₹307.40 and Coal India advancing 1.50% to ₹487.10. Bajaj Finserv gained 0.74% to ₹1,777.20 and Wipro edged up 0.53% to ₹201.75. On the losing side, Shriram Finance fell the most, dropping 2.42% to ₹933.65, while IndiGo declined 2.31% to ₹4,245.00 and Eternal slipped 2.26% to ₹248.30. Axis Bank shed 2.15% to ₹1,268.50 and Adani Ports fell 1.92% to ₹1,629.20. Sectorally, private banking and financial stocks remained under pressure, with the aviation sector hit by IndiGo's drop, while food delivery and quick commerce weighed on consumer internet plays.
