Markets halt 5-day rally on ceasefire uncertainty

Thu, 09 April 2026

18:20

Equity benchmark indices Sensex and Nifty buckled under heavy selling pressure to close with deep cuts on Thursday after investors pared exposure to financial, banking, and IT stocks as renewed tensions in West Asia faded the ceasefire-led optimism.

Weak trends in Asian and European markets, a jump in crude oil prices and uninterrupted foreign fund outflows also made investors jittery in the domestic market.

Snapping its five-session winning run, the 30-share BSE Sensex dropped 931.25 points or 1.20 per cent to settle at 76,631.65.

During the day, it dived 1,215 points or 1.56 per cent to 76,347.90.

The 50-share NSE Nifty declined 222.25 points or 0.93 per cent to end at 23,775.10.

The ceasefire deal appeared to be at risk after Iran closed the Strait of Hormuz again in response to Israeli attacks on Lebanon.

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