Stock Market Live: GIFT Nifty hints a flat to positive start; US markets fall
GIFT Nifty is indicating a flat to positive start today, suggesting some stability after yesterday’s sharp fall amid rising geopolitical tensions. Wall Street ended lower on Thursday, with declines ​in Micron Technology and Tesla, as worries about inflation stemming from soaring oil prices left investors pessimistic ‌about the potential for future interest rate cuts.
The Indian stock market witnessed a significant sell-off yesterday, with the Nifty 50 closing at 23,002.15, down 776 points or 3.26%. The benchmark Sensex also plunged, ending the session at 74,207, a decline of 2,497 points or 3.26%.
The trading session was marked by high volatility as both indices opened lower and struggled throughout the day, reflecting a risk-off sentiment among investors.
The sharp decline in the market can be attributed to a combination of rising oil prices and the US Federal Reserve’s decision to keep interest rates unchanged, which has raised concerns among investors about future economic stability.
The market sentiment was further dampened by escalating tensions in the Middle East, leading to fears of prolonged volatility. Reports indicated that the market crash wiped out around ₹12 lakh crore in investor wealth, intensifying the sense of urgency among traders.
Nifty50 Today | Oil falls as US and allies look to boost supply, unchoke Strait of Hormuz
Oil prices fell on Friday as leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply.
Looking to curb soaring oil prices, U.S. Treasury Secretary Scott Bessent said the U.S. may soon remove sanctions from Iranian oil stranded on tankers, and said a further release of crude from the U.S. Strategic Petroleum Reserve was possible.
Brent futures fell $1.24, or 1.1%, to $107.41 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.24, or 1.3%, to $94.90.
Still, for the week, benchmark Brent was on track to rise more than 4%, after Iran hit oil and gas facilities in the Gulf states forcing production to be shut in.
WTI, however, was set to fall nearly 4% in its first weekly decline in five weeks. WTI has been trading at its widest discount to Brent in 11 years.
Sensex Today | Asian markets trade mixed; Hang Seng down 0.4%, Kospi up 0.5%
Asian equities advanced early on Friday after US stocks rebounded from session lows and oil retreated amid efforts by the US and Israel to ease concerns over the Iran war.
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities
On Thursday, the benchmark index Nifty witnessed a sharp gap-down opening, tracking weak global cues amid escalating geopolitical tensions and hawkish signals from the US Federal Reserve, which dampened risk appetite across global equity markets. Following the weak start, the index traded in a narrow, sideways range during the first half of the session.
However, selling pressure intensified in the second half, with bears regaining control, dragging the index lower. Nifty eventually ended near the psychological 23000 mark, registering a steep loss of 3.26%, marking its largest single-day decline since June 04, 2024. On the daily chart, the index formed a sizeable bearish candle, indicating heightened volatility and aggressive selling.
Going ahead, the 23170–23200 zone is expected to act as an immediate resistance for the index. As long as Nifty continues to trade below the 23200 mark, the downside pressure is likely to persist. In such a scenario, the index may drift towards 22850, followed by the 22700 level in the short term.
Sensex Today | GIFT Nifty indicates a positive opening
Trends on GIFT Nifty indicate a positive start for the broader index in India, with a gain of 93.5 points or 0.40 percent. The Nifty futures were trading around 23,213.50 level.
Nifty50 Today | Wall Street ends down as traders see no rate cuts before 2027
Wall Street ended lower on Thursday, with declines ​in Micron Technology and Tesla, as worries about inflation stemming from soaring oil prices left investors pessimistic ‌about the potential for future interest rate cuts.
Investors focused on warnings by Federal Reserve Chair Jerome Powell on Wednesday that the economic outlook remains uncertain amid a U.S.-Israeli war with Iran that has sent energy prices soaring and created fears of inflation. The Fed left rates unchanged, ​as expected.
The S&P 500 declined 0.27% to end the session at 6,606.49 points.
The Nasdaq declined 0.28% to 22,090.69 points, while the Dow Jones Industrial Average declined 0.44% to 46,021.43 points.
Market on Thursday | Sensex slips 2,497 pts, Nifty at 23000
The benchmark equity indices Sensex and Nifty tumbled sharply by more than 3 percent on Thursday, snapping a three-day rally, amid a spike in crude oil prices and weak global cues.
The Sensex tanked 2,496.89 points or 3.26 percent – its biggest single-day plunge since June 2024 — to settle at 74,207.24. During the day, it dived 2,753.18 points or 3.58 percent to 73,950.95. The Nifty tumbled 775.65 points or 3.26 percent to end at 23,002.15.
All 16 major sectoral indices on the Nifty traded in the red, with financial and banking stocks declining around 3 percent each, led by heavy selling in HDFC Bank.
Broader markets also remained under pressure, with the Nifty Smallcap100 and Nifty Midcap100 indices falling about 2 percent each.
Source : Moneycontrol
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