Stock Market Opening Bell: Sensex Declines 0.31%, Nifty 50 Falls 0.39% - Here's Why

Stock Market Outlook: The Indian benchmark stock market bourses, Sensex, and Nifty 50, witnessed a gap down opening on Thursday, July 23 amid rising tensions linked to the ongoing US-Iran war.

While Nifty 50 declined 0.39% to 23904.80 level, Sensex fell 0.31% to 76515.10 level. 

Gift Nifty was trading around 23,887 level, a discount of nearly 101 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Asian markets traded in green, while the benchmark US stock market indices ended lower overnight. Nasdaq witnessed the steepest declined as a result of the tech stocks performed.

Meanwhile, the US military launched a fresh set of strikes targeting Iran’s military government and infrastructure sites. However, the US President Donald Trump said that Tehran wants to make a deal to end the war, but he feels that the Islamic Republic is not ‘ready’ for it yet. Meanwhile, Iran continues to blockade and target ships passing through the Strait of Hormuz.

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In yesterday's trading session, the Indian stock market closed sharply lower, with both Nifty 50, and Sensex ending nearly a percent lower amid broad-based selloff.

The Sensex ended 0.92% to close at 76,755.05, while the Nifty 50 closed 0.79% lower at 23,996.25. 

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