Bloodbath At Dalal Street Continues Amid No Hopes Of US-Iran Ceasefire: Sensex Over 500 Points Down

Asian equities largely moved higher in early Wednesday trade, supported by continued investor interest in artificial intelligence-related companies.

Oil prices remained elevated on Wednesday, trading close to their highest levels since July as tensions around the Strait of Hormuz raised concerns about potential disruptions to supplies from the region.

Source : ABPLIVE AI

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Key points generated by AI, verified by newsroom

• Indian markets opened sharply lower Wednesday.
• Rising crude oil prices and West Asia uncertainty weighed.
• US markets closed lower; Asian peers rose on AI.

Indian benchmark indices opened sharply lower on Wednesday as rising crude oil prices and continued uncertainty over a possible truce in West Asia weighed on investor sentiment. The weak opening came despite gains across several Asia-Pacific markets, with technology stocks, particularly AI-linked shares, attracting buying interest.

The BSE Sensex crashed more than 500 points and tested 75k, while the NSE Nifty50 slipped below 23,500, bleeding 137 points, as of 9:15 AM.

GIFT Nifty Signals Weak Opening For Dalal Street

The GIFT Nifty pointed to a subdued start for Indian equities, with futures quoted at 23,657, down 97 points.

At around 9:07 AM, the Sensex was trading at 75,166.93, down 410.65 points, or 0.54 per cent, while the Nifty declined 108.45 points, or 0.46 per cent, to 23,526.65.

The negative indication came as investors remained concerned about elevated crude oil prices amid the absence of signs of a ceasefire in West Asia. Higher oil prices are particularly important for India given the country's dependence on crude imports.

Asian Markets Gain, AI Stocks In Focus

Asian equities largely moved higher in early Wednesday trade, supported by continued investor interest in artificial intelligence-related companies.

South Korea's Kospi climbed 1.36 per cent, helped by gains in heavyweight technology stocks SK Hynix and Samsung Electronics. Japan's Nikkei 225 also advanced 0.4 per cent.

The positive trend in parts of Asia, however, failed to lift domestic sentiment as investors remained focused on the geopolitical and oil-market risks.

Wall Street Ends Lower; US Bond Yields Rise

US equities closed lower in the previous session, with all three major benchmarks coming under pressure.

The Dow Jones Industrial Average declined 1.18 per cent, while the S&P 500 fell 0.58 per cent. The Nasdaq Composite ended 0.32 per cent lower.

Meanwhile, the benchmark 10-year US Treasury yield settled at 4.8 per cent on Tuesday, keeping investors attentive to movements in global bond markets and expectations around interest rates.

Crude Oil Nears Highest Level Since July

Oil prices remained elevated on Wednesday, trading close to their highest levels since July as tensions around the Strait of Hormuz raised concerns about potential disruptions to supplies from the region.

The September crude futures were quoted at $99.26, marginally lower by 0.05 per cent.

The sustained rise in crude prices remains a key risk for Indian equities, as a prolonged increase could put pressure on inflation, the current account and corporate profitability.

Gold, Silver Futures Edge Lower

Precious metals traded slightly lower in early deals.

Gold futures declined 0.44 per cent, while silver futures slipped 0.42 per cent.

Investors continue to track movements in bullion alongside crude oil and global bond yields as markets assess geopolitical risks and the broader global economic outlook.