Indian Markets Plunge: SENSEX Tanks Over 1%, NIFTY50 Below 22,400 Amid Geopolitical Tensions

The Indian Markets benchmark indices, SENSEX and NIFTY50, experienced a significant downturn during Thursday’s afternoon session, with the SENSEX tanks by over 1% and the NIFTY50 falling below the crucial 22,400 mark. The market sentiment was severely impacted following US President Donald Trump’s national address, which dampened hopes for a swift de-escalation of the ongoing conflict in West Asia. This geopolitical uncertainty, coupled with rising crude oil prices, exerted considerable pressure on domestic equities.

Market Overview: A Deep Dive into the Downturn

The S&P BSE SENSEX witnessed a sharp decline, shedding as many as 1,588.51 points to hit an intraday low of 71,545.81. Concurrently, the NIFTY50 also reached its session’s lowest point at 22,182.55.

By 12:58 PM, while the indices recovered slightly from their day’s lows, the market remained firmly in the red. The S&P BSE SENSEX was trading 1,091.65 points, or 1.49%, lower at 72,042.65. The NIFTY50 stood at 22,349.95, reflecting a 329.45 points, or 1.45%, drop, signalling a broad-based market correction.

Key Market Drivers Behind the Decline

Several factors contributed to the market’s negative trajectory on Thursday.

Geopolitical Tensions and Crude Oil Surge: Indian Markets

US President Donald Trump’s address, which hinted at continued robust action in West Asia, instantly snuffed out any optimism regarding a quick resolution to the conflict. This geopolitical uncertainty immediately translated into higher crude oil prices, with Brent crude hovering above the $105 per barrel mark. Such a rise in oil prices is typically a negative for import-dependent economies like India, fuelling inflationary concerns and impacting corporate profitability.

FII and DII Activity: Indian Markets

Adding to the selling pressure, foreign institutional investors (FIIs) remained net sellers on Wednesday, offloading shares worth a substantial ₹8,331.15 crore. Domestic institutional investors (DIIs) provided some counterbalance by purchasing equities worth ₹7,171.80 crore on a net basis, but their buying was not enough to offset the FII outflows.

Upcoming Market Closure: Indian Markets

Investors also braced for an extended weekend, as the stock market will remain closed on April 3, 2026, on the occasion of Good Friday. This often leads to cautious trading ahead of long holidays.

Top Movers and Shakers on NIFTY50

The downturn was evident across various sectors, with several prominent names contributing significantly to the NIFTY50’s fall.

NIFTY50 Top Losers: Indian Markets

Among the stocks that dragged the NIFTY50 down were Eternal, which lost 4.83%, Asian Paint (-3.10%), Eicher Motors (-2.90%), State Bank of India (-2.86%), and Adani Enterprises (-2.71%). These significant declines underscore the broad impact of the negative sentiment.

NIFTY50 Top Gainers: Indian Markets

Despite the widespread selling, a few stocks managed to defy the trend. HCL Technologies (0.82%), ITC (0.57%), Dr. Reddy’s Laboratories (0.48%), Wipro (0.37%), and Tata Consultancy Services (0.13%) emerged as the top gainers, showcasing resilience in a challenging market.

Buzzing Stocks on April 2

Beyond the indices, several individual stocks made headlines due to specific company news or sectoral developments.

investments hindinewsinsider com hindinewsinsider .in hindinewsinsider.com hindinewsinsider.in indianewsinsider.com indianewsinsider — AI Image

Pharma Stocks Under Pressure

Shares of pharmaceutical companies, including Aurobindo Pharma, Biocon, and Glenmark, saw declines. This followed reports suggesting that the Trump administration is poised to announce tariffs on drugmakers that have not secured deals guaranteeing low prices in the US. The NIFTY Pharma index consequently traded 1.67% lower at 21,643.35.

Oil-Linked Stocks Decline

As crude oil prices pared their losses and hovered above $105 per barrel, oil-sensitive stocks traded lower. The fading hopes for a US-Iran conflict de-escalation, following Trump’s remarks about hitting Iran “extremely hard” while keeping diplomatic solutions open, directly impacted these companies.

InterGlobe Aviation (IndiGo)

Shares of InterGlobe Aviation (IndiGo) fell by as much as 5% to an intraday low of ₹3,970 apiece. The airline announced revised fuel charges ranging from ₹275 to ₹10,000, which will increase airfares for many domestic and international flights. This move came amidst a partial hike in aviation turbine fuel (ATF) prices.

V-Mart Retail Rallies

In contrast to the broader market, V-Mart Retail’s stock rallied by 13.2% to touch a session’s peak of ₹547 per equity share. The surge followed a positive business update for the March quarter, where the company reported a 24% year-on-year (YoY) growth in total revenue from operations, reaching ₹971 crore. Its same-store sales growth (SSSG) stood at a robust 12%.

Bharti Airtel Subscriber Growth

Bharti Airtel shares slipped 2% to ₹1,746.90 per unit, even as the company maintained its lead in subscriber growth for the third consecutive month. According to TRAI data, Airtel added over 48.5 lakh net new customers in February, outperforming rival Reliance Jio in both mobile and wireline segments.

Powerica IPO Debut

Powerica Ltd made a weak debut on the stock exchanges, listing at ₹366 apiece on the NSE, a 7.34% discount against its IPO issue price of ₹395. On the BSE, it listed at ₹375, down 5.06%. IPO investors saw their investment value drop to ₹13,542 per lot.

Sai Parenteral IPO Debut

Sai Parenteral’s shares made a tepid secondary debut, listing at ₹400 per share on the NSE, a modest 2.04% premium over its issue price of ₹392. On the BSE, the scrip started trading at ₹405, up 3.32%. The ₹408.79 crore IPO was a mix of a fresh issue and an offer-for-sale.

Conclusion: Indian Markets

The Indian equities market faced significant headwinds on Thursday, driven primarily by escalating geopolitical tensions in West Asia and their ripple effect on crude oil prices. As the SENSEX tanks and NIFTY50 breached key psychological levels, investors exhibited caution, leading to a broad-based sell-off. While some individual stocks showed resilience, the overall market sentiment remained subdued, reflecting global uncertainties.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

Indian Markets Plunge: SENSEX Tanks Over 1%, NIFTY50 Below 22,400 Amid Geopolitical Tensions