Sensex sinks 824 points as Nifty slips below 22,750
Sensex sinks 824 points as Nifty slips below 22,750
Markets open negative on geopolitical nerves, with Sensex down sharply and Nifty below 22,750 as Eternal and IndiGo weigh on the index and FPIs remain net sellers.
Domestic benchmark indices opened on a negative note on Tuesday as investors weighed escalating US-Iran tensions and the looming Hormuz Strait deadline. At 9:18 am, the BSE Sensex declined 641.91 points, or 0.87%, to 73,464.94, and it briefly fell as much as 824 points in early trade. The NSE Nifty fell 196.05 points, or 0.85%, to 22,772.20, after touching a low of 22,719.30.
Among Sensex constituents, Eternal slipped 2.11% to Rs 227.35, while Interglobe Aviation (IndiGo) declined 1.91%. Other notable declines included M&M, L&T and Asian Paints, down 1.91%, 1.66% and 1.59%, respectively. Broader sentiment was clouded by the view that foreign investors have been selling heavily in March (a record Rs 122,182 crore) and that the selling could continue into April as financials remain a focal point for asset allocation.
Analysts noted the market is operating in a fragile balance as investors digest geopolitical headlines and global cues. One strategist said Trump’s ultimatum to Iran will be watched closely, even as concerns about consistency in threats persist. In global markets, Wall Street closed higher overnight, with the S&P 500, Dow Jones and Nasdaq Composite advancing, underscoring the mixed international backdrop for Indian equities.
Overall, the session underscored heightened volatility and cautious sentiment as traders navigate the intersecting risks of geopolitics and fund flows, with no clear directional break yet in sight.
