Sensex Falls 0.43%, Nifty 50 Declines 0.49% After Fresh Escalations In US-Iran War

Stock Market Opening Bell: The Indian benchmark stock market indices Sensex and Nifty 50 opened in red on Thursday, June 11, after the fresh exchange of attacks between the US and Iran.

While Nifty 50 declined 0.43% to 23,114.50 level, Sensex fell 0.49% to 73,621 level. 

This comes after headline indices in the US ended sharply lower Wednesday, falling for the second day in a row. The Dow Jones Industrial Average, the S&P 500, and the NASDAQ Composite were down nearly 2% each. 

The sell-off in technology stocks continued. The Dow Jones, down by almost 1,000 points, closed below the 50000 mark for the first time after 14 sessions. The large-cap index was dragged down mainly by Caterpillar which fell 6%, Honeywell International fell 5%, and Goldman Sachs Group 3%.

Meanwhile, Asian indices also fell as sentiment was weak due to the sharp sell-off in major US indices overnight. KOSPI fell the most during early hours of trade compared with its peers in the region, down nearly 2%.

Stocks in Focus On June 11

Reliance Industries and Meta will develop a 168 MW AI-enabled data center in Jamnagar to support Meta’s AI infrastructure, strengthening India’s position as a key AI and data center hub.

Meta and CleanMax have expanded their renewable energy partnership in India to over 900 MW, with CleanMax developing 837 MW of new solar and wind projects across Rajasthan and Karnataka.

Bharti Airtel expanded its 5G network by deploying over 2,900 new sites across Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir, improving coverage and speeds for more than 28.6 million users across 77 districts.

Concord Biotech received USFDA approval for Tofacitinib Tablets, targeting a US market with potential sales of USD 500 million.

Hindustan Zinc has teamed up with Sulfozyme Agro for the Zinc Park Project, aimed at promoting eco-friendly metal recovery practices.