• Source:JND

Nifty50 Today: Domestic equity indices crashed on opening, driven by further escalation of the war in the Middle East. In the early trade, the BSE Sensex was down 2,300 points, and the Nifty50 fell below 23,800. Both the key indices were down over 2 per cent. 

BSE Sensex started the session over 1,900 points lower at 77,056.75 against last session's closing of 78,918.51, while Nifty50 opened at 23,868.05, significantly down against last day's closing of 24,450.45. The indices escalated the losses further in early trade. Sensex touched an early low at 76,424.55.

At the time of writing, Nifty50 was trading at 23,777.20, down 673.25 points or 2.75 per cent. Sensex was at 76,713.86, down 2205 points or 2.79 per cent.

Crude Prices Surge

The sharp decline in the market was followed by a massive uptick in crude oil prices as the ongoing war in the Middle East has disrupted the oil supply chain from Gulf countries. In the morning, Brent crude was at $116.4 per barrel, up $23.72 or 25.3 per cent. WTI Crude prices were also up 27 per cent from $24.9 to $115.8 per barrel. 

Top Losers

All the stocks from the Sensex basket were trading sharply lower, with Indigo, SBI, Tata Steel, Asian Paints, Maruti Suzuki, L&T, Axis Bank, Eternal, Ultratech Cement, Mahindra and Mahindra, ICIC Bank, and Adani Ports being the top losers. 

Sectoral indices were trading heavily down, Nifty Bank tanked 4 per cent, Nifty Fin Services nosedived 3.5 per cent, Nifty Auto fell 3.6 per cent, Nifty FMCG was down 2.3 per cent, and Nifty IT was trading 1.07 per cent lower.

The broader market experienced a massive sell-off, too. Nifty Small Cap 100 was down 2.77 per cent, Nifty Midcap 100 fell 2.7 per cent, and Nifty Next 50 tanked 2.8 per cent.


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