Stock Market Opening Bell: Sensex Declines 0.68%, Nifty 50 Falls 0.72% - Here's Why

Stock Market Today: The Indian benchmark stock market indices Nifty 50 and Sensex open in red on Thursday, April 23, as investor sentiment remained weak amid surging crude oil prices due to the ongoing blockade of Strait of Hormuz.

While Sensex declined 0.68% to 77,983.66, Nifty 50 fell 0.72% to 242022.35 level. 

Gifty Nifty was also indicative of a negative start for the stock market bourses today.

The Gift Nifty was trading nearly 24,204 level; 177 points lower from the Nifty futures’ previous close.

Meanwhile, Asian markets traded higher as Nikkei and Kospi hit record highs, while the US stock market also rallied overnight, sending S&P and Nasdaq to record closing.

Coming to geopolitical tensions, Iran attacked three ships in the critical chokepoint Strait of Hormuz and seized two of these vessels. The attacks came after the US President Donald Trump extended a ceasefire while maintaining the US blockade of Iranian ports.

Also Read: Crude Oil Prices To Gift Nifty: Key Factors To Influence Sensex, Nifty

Crude Oil Prices Today

The prices of crude oil surged with Brent crude oil price rising over $102 a barrel, and the US West Texas Intermediate (WTI) crude futures around $93 level.

Gold Rate Today

The yellow metal rates found itself in choppy trade as uncertainty prevails over the US-Iran peace talks. Spot gold price rose 0.1% to $4,744.31 per ounce, while US gold futures for June delivery gained 0.2% to $4,762.20. Spot silver rose 0.5% to $78.06 per ounce.