US-Iran Tensions Trigger Dalal Street, Sensex Over 350 Points Down, Nifty Below 24,500

Geopolitical concerns resurfaced after the latest round of negotiations between the United States and Iran failed to produce a concrete outcome. 

Asian markets were largely under pressure in early deals, mirroring the cautious sentiment.

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Key points generated by AI, verified by newsroom

• Indian equities opened cautiously amid geopolitical uncertainty and mixed global signals.
• US-Iran tensions resurfaced after failed negotiations and a unilateral ceasefire extension.
• Global markets traded mixed; Asian stocks fell, US indices closed lower.

Indian equity benchmarks started Wednesday’s session on a cautious note, with mixed signals emerging in the pre-open trade amid renewed geopolitical uncertainty.

The BSE Sensex opened trading below 78,900, taking a hit of more than 350 points and the NSE Nifty50 rang the opening bell under 24,500, slipping almost 100 points, around 9:15 AM. 

GIFT Nifty And Pre-Open Trading

Early indicators suggested a weak undertone for the markets, with GIFT Nifty hovering at 24,442, down 143 points. At around 9 AM, the Sensex was trading higher by 396.65 points, or 0.50 per cent, at 79,669.98. In contrast, the Nifty slipped 102.30 points, or 0.42 per cent, to 24,474.30, indicating a muted and volatile start to the day.

The decline reflects rising caution among investors after fresh developments in the US-Iran conflict dampened hopes of a near-term resolution.

IT Stocks Drag Markets as HCL Tech Slumps After Earnings

Shares of HCL Technologies came under sharp selling pressure on Wednesday, plunging nearly 9 per cent after its March quarter earnings failed to impress investors. The decline weighed on broader markets, with several frontline IT and banking stocks also trading in the red.

HCL Tech had reported a 4.20 per cent year-on-year rise in consolidated net profit at Rs 4,488 crore for the March quarter of FY26. However, investor sentiment remained weak after the company highlighted a highly volatile demand environment, impacted by tariff-related uncertainties and a slowdown in discretionary spending. The company also issued a modest FY27 growth guidance of 1-4 per cent, which further dampened sentiment.

Other major laggards included Tech Mahindra, Infosys and Tata Consultancy Services, reflecting broader weakness across the IT pack. Banking and consumption stocks such as ICICI Bank and Asian Paints also witnessed declines during the session.

Select Stocks Offer Support

Despite the overall negative bias, a few stocks provided some support to the market. NTPC, Hindustan Unilever, Trent and Tata Steel were among the notable gainers, helping limit the downside to some extent.

Global oil prices also showed mild easing, with Brent crude, the international benchmark, trading 0.40 per cent lower at $98.09 per barrel.

Meanwhile, foreign institutional investors (FIIs) continued to remain net sellers, offloading equities worth Rs 1,918.99 crore on Tuesday, according to exchange data.

US-Iran Tensions Back In Focus

Geopolitical concerns resurfaced after the latest round of negotiations between the United States and Iran failed to produce a concrete outcome. 

Although Washington has announced an extension of the ongoing ceasefire, uncertainty persists as the move appears to be unilateral, with no clear confirmation of participation from Tehran. 

Further adding to the uncertainty, scheduled talks between the two sides did not take place, with reports indicating that Iran declined to attend.  Meanwhile, the continued blockade in the Strait of Hormuz, a key global oil transit corridor, remains a critical concern for markets, given its implications for global energy supply. 

“The primary overhang stems from developments surrounding the US-Iran situation. With the ceasefire deadline now passed and no concrete progress on a lasting agreement, concerns around a potential escalation have resurfaced,” said Hariprasad K, Research Analyst and Founder, Livelong Wealth.

He further noted that Iran’s resistance to negotiations under pressure has heightened fears of renewed conflict, especially around critical trade routes such as the Strait of Hormuz.

Global Markets Trade Mixed

Asian markets were largely under pressure in early deals, mirroring the cautious sentiment.

Hong Kong’s Hang Seng dropped 1.11 per cent, while South Korea’s Kospi slipped 0.54 per cent. Japan’s Nikkei 225, however, bucked the trend and advanced 0.83 per cent. 

Overnight in the US, key indices ended lower, with the S&P 500 declining 0.63 per cent, while the Nasdaq and Dow Jones also posted losses. 

Safe-Haven Demand Lifts Gold, Silver

Amid the uncertainty, investors turned to safe-haven assets. Gold futures rose 1.07 per cent, while silver climbed 1.54 per cent, reflecting a cautious market stance. 

Previous Session: Markets Extended Gains

In the previous session on Tuesday, domestic markets had extended their rally for a third straight day, supported by easing crude prices and optimism around potential progress in US-Iran talks.

The Sensex had climbed 753.03 points to settle at 79,273.33, while the Nifty rose 211.75 points to close at 24,576.60. 

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