The Nifty 50 closed at 22,968.25, down 255.15 points or 1.12%, as concerns over a potential ceasefire weighed on sentiment. The BSE Sensex shed 640 points to close at 78,206, paring gains from earlier sessions. Both benchmarks traded within a range of 22,542.95 to 22,998.35 on the Nifty, reflecting heightened volatility through the session.
The market decline came despite supportive commentary from global crude oil prices, which dropped 13-15% and provided some relief to domestic sentiment. However, ceasefire worries dominated price action, with investors booking profits across major sectors. The Sensex had gained 640 points on rebound momentum following US comments on the Iran conflict, but those gains proved short-lived heading into today's session.
Sectoral performance was broadly negative. Banking stocks underperformed, with the Nifty Bank falling 1.72% to 54,743.80 and the BSE BANKEX down 1.47% at 61,777.90. Nifty Financial Services declined 1.61% to 25,634.25, dragging the broader market lower. On the upside, select stocks including Tata Motors and Larsen & Toubro had posted gains earlier in the week, though today's session saw widespread selling pressure.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 22,968.25 | -255.15 | -1.12% |
| Nifty Bank | 54,743.80 | — | -1.72% |
| Nifty Financial | 25,634.25 | — | -1.61% |
GIFT NIFTY tracked the domestic selloff, closing at 23,880.5, down 130.5 points or 0.54% from its previous close of 24,011.0. The offshore derivative opened at 23,931.5 and hit an intraday high of 24,034.5 in early trade before sliding to a session low of 23,745.0. The 289.5-point intraday range underscored the volatile tone, with GIFT NIFTY mirroring the cash market's weakness through the afternoon.
The GIFT NIFTY session saw early strength evaporate after the Indian market open at 09:15 IST. The contract traded under pressure from mid-morning onwards, hitting session lows around 17:00 IST before a modest recovery into the close. The offshore index spent most of the session below the 24,000 mark, signaling continued caution ahead of Session II.
| GIFT NIFTY | Level |
|---|---|
| Open | 23,931.5 |
| High | 24,034.5 |
| Low | 23,745.0 |
| LTP | 23,880.5 |
| Change | -130.5 (-0.54%) |
GIFT NIFTY heads into Session II at 23,880.5, down half a percent, with the cash market's 1.1% decline setting a weak tone for overnight trade.