Stock Market Today Live Updates: Nifty slips below 24,100, Sensex falls over 240 points
The Nifty 50 was trading at 24,034.90, down 120 points or 0.50%, while the BSE Sensex stood at 76,852.68, lower by 382.78 points or 0.50%. The ongoing weakness in Indian equities is being driven mainly by rising crude oil prices and higher global bond yields…
The ongoing weakness in Indian equities is being driven mainly by rising crude oil prices and higher global bond yields, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited. He said crude prices have been reacting to developments in the Middle East for.
The sustained rise in crude oil prices is emerging as one of the biggest risks for Indian markets. Higher energy costs can increase inflationary pressure, widen India's import bill and weigh on corporate margins.
What Happened
Rising energy prices have added to concerns over inflation and corporate margins, particularly for transport, auto and cement companies. Market expert Ajay Bagga said global markets were under pressure from escalating US-Iran tensions, higher bond yields and a missile strike on the.
The Nifty 50 was trading at 24,034.90, down 120 points or 0.50%, while the BSE Sensex stood at 76,852.68, lower by 382.78 points or 0.50%.
Investors will closely track Brent crude as it remains near $92 a barrel amid uncertainty over the Strait of Hormuz.
Indian benchmark indices remained under pressure at 12:26 pm on Wednesday, with the Nifty trading at 24,054.10, down 101.30 points or 0.42%.
Key Details
He said the combination of surging energy costs, rising long-term yields and weakness in equities was creating a "classic squeeze" for investors. Analyst Vipin Dixena was quoted by news agency ANI as saying that the market was trying to stabilise after six.
Oil prices extended their gains for a fourth straight session, with Brent crude trading around $91.56 a barrel and US crude at about $85.59.
He identified 24,000-24,050 as a crucial support zone for the Nifty.
Holding this level could trigger a technical rebound, while 24,300-24,400 remains the immediate resistance zone.
Why It Matters
All broad-market indices traded lower, while auto, metal, PSU Bank, realty, consumer durables, financial services, chemicals and cement stocks came under pressure. FMCG, IT, oil and gas and telecom were among the sectors trading higher.
Shares of shipping aggregator Shiprocket made a strong debut on the bourses on Wednesday, listing at a premium of around 35% over its issue price.
The stock opened at ₹131 on the NSE, a 35.05% premium, while it listed at ₹129.50 on the BSE.
What Reports Say
Coverage of the story so far points to:
The company had fixed its IPO price band at ₹92-97 per share.
Indian benchmark indices extended their losses in early trade on Wednesday, with the Nifty 50 falling 82.65 points, or 0.34%, to around 24,072.25 and the Sensex declining 244.91 points, or 0.32%, to 76,990.55.
Continued reporting by The Times of India as more details emerge
