Indian equity markets saw a sharp sell-off on Thursday, with the BSE Sensex plunging over 1,600 points and the Nifty 50 slipping below the 23,300 mark in intraday
trade. Indian stock markets opened sharply lower on Thursday, witnessing a gap-down start after three consecutive sessions of gains, as escalating tensions in the Iran war and broader Middle East crisis rattled global sentiment. At the opening bell, the BSE Sensex plunged 1,953 points, while the Nifty 50 dropped 453 points, slipping below key levels. The sharp decline comes after Iran struck key energy facilities in the Gulf, pushing Brent crude oil prices above $110 per barrel, raising fears of inflation and supply disruptions. The sell-off intensified across sectors, with benchmark indices extending losses during early trade. Shares of InterGlobe Aviation and Adani Ports and Special Economic Zone fell around 3% each, among the top losers. Adding to the negative sentiment, the Federal Reserve kept interest rates unchanged at 3.5%–3.75%, maintaining the appeal of US bonds and potentially triggering further FII outflows from Indian equities. Early signals were already weak, with GIFT Nifty indicating a negative opening. Futures were quoted at 23,324, down 453 points. This sharp correction comes a day after Indian markets ended on a strong note. On Wednesday, the Nifty rose 196.65 points (0.83%) to close at 23,777.80, while the Sensex gained 567.99 points (0.83%) to settle at 76,704.13, led by buying in auto, IT, consumer, and banking stocks. However, the escalation in the Middle East crisis, surge in crude oil prices, and global risk-off sentiment have reversed momentum, putting markets under heavy pressure at the open.
