Sensex Crashes 1,677 Points, Nifty Slumps Over 500 As West Asia Tensions Escalate

Indian benchmark equity indices registered their steepest single-day decline in more than three months on Wednesday as escalating geopolitical tensions in West Asia weighed heavily on investor sentiment, triggering a broad-based market selloff.

The Sensex plunged 1,677.12 points, or 2.15 per cent, to close at 76,503.60, while the Nifty dropped 516.65 points, or 2.12 per cent, to settle at 23,882.05.

The sharp decline came after renewed uncertainty in West Asia weakened global risk appetite. Investor concerns escalated after US President Donald Trump said the ceasefire with Iran was over, although negotiations could continue following an exchange of strikes by both sides in the Strait of Hormuz.

The geopolitical developments prompted investors to reduce exposure to equities, resulting in widespread losses across sectors.

Banking stocks led the decline, with the Nifty PSU Bank and Nifty Bank indices emerging as the worst-performing sectoral gauges during the session.

Market experts said the 24,000 level is expected to act as the immediate resistance zone for the Nifty, followed by 24,200. They noted that a sustained move above these levels would be necessary to improve the index’s near-term technical structure.

On the downside, analysts identified the 23,800 level as a crucial support zone.

A decisive breach below this level could accelerate selling pressure and drag the index towards the 23,600–23,500 range.

Among Nifty constituents, Jio Financial Services, InterGlobe Aviation and Shriram Finance were the biggest losers.

Only four stocks in the benchmark index ended the session with gains, while the remaining constituents closed in the red.

Despite ending lower, the Nifty Metal and Nifty Pharma indices outperformed other sectoral indices by limiting their losses.

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