Benchmark indices Nifty 50 and BSE Sensex opened sharply lower on Friday.
As investors turned cautious amid escalating tensions in West Asia and ongoing disruptions at the Strait of Hormuz—a critical artery for global energy supplies.
At 10:00 AM, the Nifty 50 was down 0.94% or 226.75 points at 23,946.30, slipping below the key 24,000 mark. The Sensex declined 1.04% or 807.97 points to 76,871.32, reflecting broad-based selling pressure.
Global cues weigh on sentiment
Markets across the Asia-Pacific region mirrored the cautious mood, as stalled negotiations between the US and Iran raised fears of prolonged supply disruptions through the Strait of Hormuz. The uncertainty kept risk appetite subdued, despite limited geopolitical relief elsewhere.
A temporary ceasefire extension between Israel and Lebanon—reportedly backed by Donald Trump and discussions at the White House—offered some stability, but failed to lift broader sentiment.
Among regional indices, South Korea’s Kospi slipped 0.22%, while Hong Kong’s Hang Seng Index fell 0.45%, highlighting persistent risk aversion.
In contrast, Japan’s Nikkei 225 rose 0.55% after data showed core inflation accelerated to 1.8% in March—its first uptick in five months—lending some support to equities.
Commodities in focus
Oil prices remained elevated, with Brent crude trading above the $100 per barrel mark. The April futures contract rose 1.44% to $107, as supply concerns linked to the Strait of Hormuz continued to underpin prices.
Precious metals, however, edged lower. Gold and Silver futures declined 0.34% and 0.42%, respectively, pressured by rising US 10-year Treasury yields and firm oil prices, which dampened demand for safe-haven assets.
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