Stock Market Opening Bell: Sensex Declines 1,400 Pts; Nifty Crashes Below 22,300

Stock Market Today: The Indian stock market opened sharply lower on Thursday, following losses in global markets, after US President Donald Trump said that the war in Iran could intensify over the next two to three weeks.

The domestic benchmark indices rang in red, declining 1.19% to open at 72,262.05, while the Nifty 50 opened  1.31%, lower at 22,383.40. The Bank Nifty bourse opened at 50,625.65, lower 1.60%.

Meanwhile, all sectoral indices plummeted with Nifty PSU Bank, Nifty Realty, Nifty Pharma, Nifty Auto, Nifty Metals, Nifty Private Bank and others bourses falling over 2%.

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Broader markets also witnessed heavy selling pressure, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices declined over 2.8% each.

Ahead of Indian stock market exchanges opening today, Asian markets reversed gains and traded lower, while US stock futures also crashed declined after the US President Donald Trump signalled that the Iran war in the Middle East would continue for more weeks.

Gold Rate Today

Gold and silver prices in India also fell, following losses in international bullion prices amid a strong US dollar. The MCX gold rate today for June futures contracts opened lower by 0.79%, at Rs 1,52,490 per 10 grams as compared its previous close of Rs 1,53,708 level. MCX silver price for May futures contracts opened lower by  0.28%, at Rs 2,42,800 per kilogram as against its previous close of Rs 2,43.501 level.

Crude Oil Prices Today

Fueled by fears linked to the US-Iran war escalation, the crude oil prices rose more than $4. Brent crude futures rose 4.8% to $106.04 per barrel, while US West Texas Intermediate crude futures were up 4.2%, to $104.29 per barrel.