Indian shares opened sharply lower on Thursday, with the benchmark BSE Sensex dropping 1,703 points (2.2%) to 75,000 amid hawkish signals from the U.S. Federal Reserve and rising geopolitical tensions linked to Israel and Iran. The NSE Nifty index also fell by 524 points (2.2%) to 23,254, reflecting widespread investor concern. Notably, HDFC Bank’s shares plummeted 5% following the resignation of its part-time chairman due to ethical concerns.
The broader market sentiment was negatively impacted as major stocks like Mahindra & Mahindra, Asian Paints, and Kotak Mahindra Bank saw declines of 3-4%. Airline stocks were particularly hard-hit, with Brent crude prices surging above $112 per barrel due to escalating tensions affecting energy assets in the Middle East, further pressuring the sector.
For market professionals, this sharp decline underscores the volatility stemming from external economic signals and geopolitical instability. For a deeper analysis of these developments, I recommend checking out the full article.
Source: nasdaq.com