Stock Market Opening Bell: Sensex Plummets 0.57%, Nifty 50 Declines 0.37%

Stock Market Opening Bell: After Iran accused the US of breaching the ceasefire agreement, the Indian benchmark stock market indices in a reversal from Wednesday's trading session opened in red on Thursday, April 9. 

While Sensex opened 0.57% lower at 77124.43, Nifty 50 stood 0.37% lower at 23,908 level. 

This comes after hopes pinned over the US-Iran ceasefire declined and investors remained cautious on further escalation of the conflict.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf noted that distrust toward the US ran deep due to Washington’s continued violations of agreements.

Gift Nifty had also signalled a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,973 level, 84 points lower from the Nifty futures’ last close.

On Wednesday, the Indian stock market ended sharply higher led by the US-Iran ceasefire deal announcement, with the benchmark Nifty 50 closing near 24,000 level.

The Sensex has surged 3.95%, to close at 77,562.90, while the Nifty 50 settled 873.70 points, or 3.78%, higher at 23,997.35.

Meanwhile, the rupee opened at 92.66 against the US dollar versus Wednesday’s close of 92.58/$.

Top Stock Picks Of The Week

Krishna Patwari, Founder & Managing Director of Wealth Wisdom India Private Limited, noted that top picks for the near term and the coming week include Apollo Tyres, InterGlobe Aviation, Asian Paints, ITC Hotels, and SRF, as these are quality businesses with strong earnings visibility and sector tailwinds.

"Additionally, in the unlisted space, sentiment is improving with renewed interest in quality names. NSE unlisted shares are around ₹1,845, reflecting strong demand for exchange-led investment.

The focus stays on strong fundamentals, long-term growth, and early-stage value before listing, according to the market expert.