Closing Bell: Nifty 50 Snaps 5-Day Winning Streak; Sensex Slides 931 Points Amid Middle East Tensions

Market Update at 04:09 PM: On Thursday, April 9, India’s benchmark indices, the Nifty 50 and the Sensex, ended in the red, snapping a five-day winning streak. The decline was primarily driven by weakness in financial stocks, while renewed tensions in the Middle East dampened hopes that the U.S.-Iran ceasefire would lead to lasting peace.

The Nifty 50 opened sharply lower with a gap-down start of 711 points. By the end of the session, the index closed down by 222.25 points, or 0.93 per cent, at 23,775.10. The Sensex also witnessed heavy selling pressure, declining by 931.5 points, or 1.20 per cent, to settle at 76,631.65. The Bank Nifty underperformed the frontline indices, falling 1.58 per cent to close at 54,821.70. Meanwhile, the India VIX, often referred to as the market’s fear gauge, surged by 3.71 per cent and closed above the 20 mark, indicating rising volatility.

Crude oil prices remained elevated, further weighing on market sentiment. Brent crude rose 2.5 per cent to USD 97.28, while WTI crude gained 3.3 per cent to USD 97.55. The rise in oil prices comes amid escalating geopolitical tensions, as Iran tightened control over the Strait of Hormuz, U.S. forces signaled continued presence in the region, and Israel intensified strikes in Lebanon.

On the sectoral front, four out of eleven key sectoral indices managed to close in positive territory. Broader markets showed relative resilience, with the Nifty Midcap index rising 0.32 per cent and the Nifty Smallcap 100 index gaining 0.17 per cent, outperforming the benchmark indices.

The Nifty Metal index emerged as the top gainer among sectoral indices, advancing 1.25 per cent. Notably, nine out of fifteen constituent stocks ended higher. The index extended its winning streak for the sixth consecutive session and touched a fresh one-month high, indicating sustained strength in metal stocks.

Among stock-specific movements, Tata Consultancy Services (TCS), India’s leading software services firm, rose 1.2 per cent ahead of its earnings announcement later in the day. On the other hand, recruitment services firm Info Edge declined 2.9 per cent after reporting slower growth in billings for the March quarter compared to the October–December period.

In terms of index contribution, Hindalco Industries added 10.70 points to the Nifty 50, followed by Tata Consultancy Services, which contributed 6.65 points, and Bharat Electronics, adding 5.21 points. Conversely, HDFC Bank was the biggest drag on the index, pulling it down by 61.64 points, followed by ICICI Bank with a negative contribution of 43.69 points and Larsen & Toubro, which dragged the index by 28.18 points.

Market breadth remained weak throughout the session. Out of a total of 3,323 stocks traded on the NSE, 1,573 stocks advanced, while 1,670 declined and 80 remained unchanged, indicating a negative bias.

On the broader market front, 59 stocks hit their 52-week highs, whereas 11 stocks touched their 52-week lows. Additionally, 163 stocks were locked in their Upper Circuits, while 19 stocks were locked in Lower Circuits.

Market Update at 2:35 PM: Indian benchmark indices, Nifty 50 and Sensex, remained under pressure on Thursday, trading in a narrow range as rising geopolitical tensions and surging oil prices dampened investor sentiment.

The weakness in the market came after oil prices resumed their upward rally following fresh tensions between Iran and the U.S. Iran accused the U.S. of violating the recently announced ceasefire agreement, raising concerns over stability in the region.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that deep distrust toward the U.S. stems from its repeated pattern of violating agreements. In a statement shared on social media, he highlighted ongoing concerns including Israel’s continued attacks on Lebanon and reports of drones entering Iranian airspace.

Reflecting the cautious mood, the Nifty 50 was trading 1.25 per cent, or 300.25 points lower, at 23,697.10 as of 14:34 on April 9, 2026. Meanwhile, the Sensex declined 1.47 per cent, or 1,141.78 points, to 76,421.12.

Among the major laggards on the Nifty 50 were Jio Financial Services, InterGlobe Aviation, and Larsen & Toubro, which weighed on the broader market.

Market Update at 12:23 PM: Indian benchmark indices, the Nifty 50 and the Sensex, traded lower on Thursday as oil prices resumed their upward trajectory following renewed geopolitical tensions. The decline came after Iran accused the U.S. of violating the ceasefire agreement, dampening investor sentiment.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that deep distrust toward the U.S. stems from its repeated pattern of violating agreements. He highlighted ongoing concerns, including Israel’s continued attacks on Lebanon and reports of drones entering Iranian airspace, as mentioned in a statement on social media.

Amid this backdrop, the Nifty 50 was trading 0.44 per cent, or 105.65 points lower, at 23,891.70. The Sensex declined 0.64 per cent, or 499.32 points, to 77,063.58.

On the index front, Eternal, Mahindra & Mahindra, Infosys, and Jio Financial Services emerged as the Top Losers in the Nifty 50 index, reflecting pressure across key sectors.

However, broader markets showed resilience. The Nifty MidCap index was trading 0.67 per cent higher, while the Nifty SmallCap index gained 0.87 per cent, indicating continued buying interest in mid- and Small-Cap stocks.

Sector-wise, the Nifty Metal and Nifty Media indices outperformed the broader market, whereas the Nifty IT index witnessed the sharpest decline during the session.

Market Update at 09:35 AM: Indian equity benchmarks opened on a weak note on Thursday, with the Nifty 50 and the Sensex slipping in early trade as rising crude oil prices and escalating geopolitical tensions weighed on investor sentiment.

The decline comes after oil prices resumed their rally following Iran’s accusation that the U.S. violated the ceasefire agreement. Iran’s Parliament Speaker Mohammad Bagher Ghalibaf stated that deep distrust toward the U.S. stems from its repeated pattern of violating agreements. He cited Israel’s continued attacks on Lebanon and the presence of drones in Iranian airspace as key concerns in a statement shared on social media.

As of 9:18 AM, the Nifty 50 was trading 0.36 per cent, or 86.90 points lower, at 23,910.55. The Sensex declined 0.50 per cent, or 384.78 points, to 77,178.12.

Among the top losers in the Nifty 50 index were Infosys, Adani Ports and Special Economic Zone, Shriram Finance, and HCLTech, reflecting pressure on heavyweight stocks, particularly in the IT space.

Despite the weakness in frontline indices, broader markets showed resilience. The Nifty MidCap index was up 0.28 per cent, while the Nifty SmallCap index gained 0.57 per cent, indicating selective buying in mid- and small-cap stocks.

On the sectoral front, the Nifty Metal and Nifty Media indices outperformed the broader market, while the Nifty IT index witnessed the sharpest decline among sectors.

Meanwhile, global oil prices surged, with Brent Crude’s April contract rising 2.9 per cent to trade at USD 97.50 per barrel, adding to inflationary concerns and dampening market sentiment.

Pre-Market Update at 7:46 AM: The benchmark indices of the Indian stock market, Sensex and Nifty 50, are likely to open on a weaker note on Thursday, April 9, tracking mixed global cues. The initial optimism surrounding the two-week U.S.-Iran ceasefire has faded amid reports of violations, keeping investor sentiment cautious.

Asian markets traded in the red, while U.S. equities closed sharply higher overnight, with the Dow Jones posting its biggest single-day percentage gain in a year. As of 7:30 am, GIFT Nifty hovered around 23,969, down by 130 points from the previous close of Nifty futures, indicating a gap-down opening of around 100 points for Indian equity benchmarks.

Asian equities declined on Thursday amid renewed concerns over the U.S.-Iran ceasefire. Japan’s Nikkei 225 fell 0.43 per cent, while the Topix dropped 0.72 per cent. South Korea’s Kospi declined 0.91 per cent and the Kosdaq slipped 0.97 per cent, reflecting cautious sentiment across the region.

The White House confirmed that the U.S. will engage in direct negotiations with Iran, with Vice President JD Vance leading the delegation in Islamabad. The first round of discussions is scheduled for Saturday morning (local time). Despite diplomatic efforts, tensions remain elevated in the Middle East. Sporadic clashes continue, including Iranian strikes on Gulf nations, while the Strait of Hormuz remains largely obstructed. Israel has also intensified strikes on Lebanon, drawing strong warnings of retaliation from Iran.

The U.S. dollar steadied after hitting a one-month low. The dollar index edged up 0.03 per cent to 99.09, indicating limited recovery amid geopolitical uncertainty.

Oil prices moved higher due to concerns over the stability of the ceasefire and continued disruptions in the Strait of Hormuz. Brent crude rose 1.74 per cent to USD 95.67 per barrel, while U.S. West Texas Intermediate (WTI) crude climbed 2.14 per cent to USD 92.84 per barrel.

From a derivatives perspective, the Put-Call Ratio (PCR) stands at 1.20, indicating relatively bullish positioning. On the Put (PE) side, the 24,000 strike has significant open interest, suggesting strong support. On the Call (CE) side, major open interest is concentrated at 24,000 and 24,500 strikes, making these key resistance levels.

For April 9, Nifty 50 faces immediate resistance at 24,000, followed by 24,300. On the downside, support is placed at 23,827, followed by 23,500.

Sammaan Capital and SAIL remain under the F&O ban for April 9.

On April 7, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,811.97 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 4,168.17 crore. FIIs have now been net sellers for 26 consecutive trading sessions.

In the previous session on Wednesday, the Indian stock market ended with strong gains supported by the U.S.-Iran ceasefire and RBI policy outcome. The Sensex surged 2,946.32 points, or 3.95 per cent, to close at 77,562.90, while the Nifty 50 gained 873.70 points, or 3.78 per cent, to settle at 23,997.35.

U.S. stock markets closed higher on Wednesday amid improved sentiment following the ceasefire announcement. The Dow Jones Industrial Average jumped 1,326.33 points, or 2.85 per cent, to 47,910.79. The S&P 500 rose 165.98 points, or 2.51 per cent, to 6,782.83, while the Nasdaq Composite advanced 617.15 points, or 2.80 per cent, to 22,635.00.

Among individual stocks, Nvidia gained 2.23 per cent, AMD rose 4.64 per cent, Amazon climbed 3.50 per cent, and Apple added 2.13 per cent, while Tesla slipped 0.98 per cent. Delta Air Lines rose 3.8 per cent, while Southwest Airlines and United Airlines surged 6.7 per cent and 7.9 per cent, respectively. Carnival jumped 11.2 per cent, Norwegian Cruise Line gained 7.6 per cent, and Levi Strauss advanced 10.7 per cent.

Gold prices remained steady as investors awaited clarity on U.S.-Iran developments, with spot gold largely unchanged at USD 4,715.42 per ounce. Silver prices declined, with spot silver falling 0.4 per cent to USD 73.83 per ounce.

Disclaimer: The article is for informational purposes only and not investment advice.

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