Stock market today: Sensex plunges 1525 pts, Nifty below 22,250; IndiGo, Sun Pharma shares down 4%

Domestic benchmark indices Sensex and Nifty opened lower on Thursday, resuming their downward trajectory after a brief rebound in the previous session as caution returned to markets. The negative start tracked losses across Asian peers, with sentiment turning fragile amid fading hopes of an early de-escalation in the ongoing US-Iran conflict.

At 9:16 am, the BSE Sensex plunged 1415.89 points, or 1.94%, to 71,718.43, falling as much as 1525 points in early trade. The NSE Nifty slumped 431.60 points, or 1.90%, to 22,247.80, briefly touching a low of 22,209.15.

Among Sensex constituents, InterGlobe Aviation (IndiGo) plunged 4.61% to Rs 3988.30. Sun Pharma declined 3.89%, while Asian Paints, Eternal and Adani Ports were down 3.55%, 3.55% and 3.49%, respectively.

Market sentiment has once again turned negative following President Trump's announcement that they will hit Iran very hard in the next two to three weeks, said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

“Brent crude spiked around 5% to $105 and the US 10-year bond yield again firmed up to 4.36 percent negatively impacting gold and silver prices, though marginally,” Vijayakumar said.

Broader Asian markets traded lower. Japan’s Nikkei 225 was down 1.88% to 52,731.94, while South Korea’s Kospi plunged 3.47% to 5,288.76, and Hong Kong’s Hang Seng declined 0.96% to 25,051.68. 

Wall Street ended higher overnight, with all three major indices closing in the green. The S&P 500 edged up 0.72% to close at 6,575.32, while the Dow Jones Industrial Average gained 0.48% to settle at 46,565.74. The Nasdaq Composite climbed 1.16% to 21,840.95.

“Traders should remain cautious as the current setup is largely news-driven and may lead to heightened volatility during the session. Any short-term bounce should be used to exit long positions or reduce exposure rather than initiating fresh buying,” said Gaurav Udani, Founder - ThinCredBlu Securities.

In the previous session on Wednesday, the Sensex jumped 1186.77 points, or 1.65 per cent, to settle at 73,134.32, while the Nifty gained 348 points, or 1.56 per cent, to close at 22,679.40.