Indian equity markets closed sharply lower after a volatile session. The Sensex, after dipping to an intraday low of 81,523.16, ended at 81,691.98, down by 823.16 points, or 1%. Nifty50, too, dropped below the 25,000 mark, settling at 24,888.2, down by 253.2 points, or 1.01%.
The market was hit by multiple external and internal factors, including escalating tensions between the US and Iran, rising oil prices, and the nearing deadline for President Trump’s trade deal. These factors, coupled with the weekly Nifty50 F&O expiry, weighed heavily on investor sentiment.
In terms of broader market performance, the Nifty Midcap100 and Nifty Smallcap100 indices also ended in the red, down 1.73% and 1.90%, respectively.
The India VIX, a measure of market volatility, surged 2.54% to settle at 14.01 points, highlighting the heightened uncertainty in the market.
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Impact on the stock market
As a result of the global uncertainty, sectoral indices faced heavy losses. All sectors, without exception, ended in the red. The Nifty Realty index was the biggest underperformer, down 2.02%, largely due to the poor performance of stocks like Phoenix, DLF, Prestige, and Sobha, which saw losses of up to 3%. Other sectors like Nifty Energy, Auto, Oil & Gas, FMCG, Metal, and Financial Services saw declines of over 1% each.
| Sector/Index | Performance |
| IT & BPM sector | -0.84% |
| Healthcare sector | 0.05% |
| Oil & Gas sector | -1.69% |
| Real estate sector | -2.02% |
| PSU Bank in India | -1.27% |
Top gainers today
| Company | Price (in ₹) | Change % |
| Apollo Hospital Share Price | 6,996.50 | 1.00 |
| Dr Reddys Labs Share Price | 1,362.70 | 0.86 |
| Bajaj Finserv Share Price | 2,028.80 | 0.79 |
| Asian Paints Share Price | 2,219.40 | 0.48 |
| Tech Mahindra Share Price | 1,644.40 | 0.42 |
Top losers today
| Company | Price (in ₹) | Change % |
| Tata Motors Share Price | 715.35 | -2.86 |
| Shriram Finance Share Price | 668.05 | -2.62 |
| Trent Share Price | 5,627.50 | -2.58 |
| Titan Company Share Price | 3,452.70 | -2.51 |
| Coal India Share Price | 392.70 | -2.34 |
Market aftermath: Impact on stocks
Airline stocks drop after air India crash
The sharp decline in airline stocks came after a tragic incident involving an Air India flight that crashed near Ahmedabad airport. Early reports suggest that the London-bound flight, carrying 242 passengers, crashed right after takeoff. The incident caused widespread fear and uncertainty, especially regarding air travel safety, which resulted in significant declines in the stocks of major airlines.
IndiGo shares dropped 3%, trading at ₹5,465, while SpiceJet fell 1.5%. The crash also impacted the shares of Adani Enterprises, which operates the Ahmedabad airport. Adani’s stock saw a decline of nearly 1%, reflecting investor concerns about potential safety and operational risks.
Boeing’s stock also took a hit, dropping 5% in the pre-market session, as investors reacted to the plane crash and broader concerns about aviation safety.
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Asian paints sees significant rise after large block deal
Asian Paints saw a 2% jump in its stock price today, driven by a significant block deal. Around 3.5 crore shares, representing 3.64% of the company’s total equity, changed hands for approximately ₹7,703 crore. The block deal occurred at ₹2,201 per share, which provided a boost to the stock price.
Despite the positive movement today, Asian Paints has had a tough month, with its shares falling over 4.5% in the last month and nearly 6% in the past six months. The company’s Q4 FY25 results came in below analysts’ expectations, with a net profit of ₹692 crore, which was lower than the anticipated ₹1,069 crore. The company also reported a 4.3% drop in consolidated revenue for the fourth quarter, amounting to ₹8,359 crore.
Despite the weak financial performance, the block deal sparked optimism, lifting the stock today.
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Sterlite technologies hits a three-year high with bharatnet order
Sterlite Technologies surged over 10% today, hitting its highest level in three years. This spike came after the company secured a ₹2,631 crore contract from BSNL for the BharatNet project. The contract, which is part of the government’s last-mile connectivity initiative, will see Sterlite Tech providing design, supply, installation, and maintenance services for the middle-mile network across several circles.
Sterlite Tech’s stock saw a massive increase in trading volume, with more than 1.18 crore shares changing hands, 12.6 times the average 30-day volume. The company’s leadership is optimistic about further opportunities in BharatNet Phase III, which could continue to drive growth in the coming years.
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Crude oil prices surge amid rising geopolitical tensions
Crude oil prices surged by 4% today, reaching their highest levels in over two months. The price spike was driven by escalating tensions in the Middle East, with the US moving troops out of the region and Iran threatening retaliation. These developments raised fears of supply disruptions, pushing oil prices higher.
Brent crude futures rose 0.2%, to $69.92 per barrel, while West Texas Intermediate crude increased 0.3%, to $68.37. Both benchmarks surged more than 4% on Wednesday, following concerns over the US-Iran situation. Additionally, optimism around a potential trade deal between the US and China also provided support to oil prices, as higher demand from the world’s two largest economies was expected to drive further price increases.
Conclusion
Today’s market performance was marked by a sharp downturn, driven by a combination of global geopolitical tensions, domestic uncertainties, and sector-specific factors. While some stocks like Asian Paints and Sterlite Technologies saw significant gains, the overall market sentiment remained negative, with major indices closing in the red. As global tensions continue to rise and oil prices climb, it’s essential for investors to stay informed and remain agile in navigating the volatile market conditions.
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