Stock Market Today: Sensex Falls 150 Points, Nifty Ends Below 23,200

Indian benchmark equity indices concluded Thursday’s volatile trading session in negative territory as investor confidence weakened amid escalating geopolitical tensions in West Asia following fresh United States military action against Iran.

The Nifty slipped 53.35 points, or 0.23 per cent, to close at 23,161.60. The Sensex also retreated 150.63 points, or 0.20 per cent, ending the day at 73,832.55.

Market analysts stated that the 23,300-23,400 range has emerged as a significant near-term resistance zone for the Nifty. They noted that a sustained move beyond this band would be necessary to revive sentiment and support an advance towards the 23,550 level.

Experts further observed that the index is hovering close to the crucial 23,100 support mark.

Maintaining this level remains vital to avoid additional downside pressure.

Investors adopted a cautious stance after reports indicated that the United States had expanded its military offensive against Iran.

US President Donald Trump said Tehran had sufficient time to negotiate an agreement with Washington but failed to do so. He warned that Iran would now face the consequences and added that the United States would strike the country ‘very hard’.

Concerns deepened after Iran announced the closure of the strategically important Strait of Hormuz following the US military strikes.

The move fuelled fears of disruptions to global oil supplies and increased uncertainty across financial markets.

Among Nifty stocks, Infosys and Eternal emerged as the biggest drags.

Weakness in technology counters also pulled the broader IT segment lower.

Broader markets faced sharper selling, with the Nifty MidCap index falling 0.81 per cent and the Nifty SmallCap index declining 0.67 per cent.

The Nifty IT, Consumer Durable, and Chemical indices recorded the steepest losses.

In contrast, Media, Private Bank and Pharma indices outperformed and limited the market’s overall decline.

Analysts said investors continue to track developments in West Asia closely, as further escalation could influence crude oil prices and overall risk appetite.

The Indian rupee weakened after two sessions of gains. The decline was driven by fresh dollar demand, forward maturities and a rebound in the dollar index due to safe-haven flows.

A market expert stated that a decisive breach above 95.80 could trigger strong short-covering and aggressive hedging. Such a move could open the path towards 96.50.

On the downside, 94.70 continues to serve as a robust support base.

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