Bloodbath at Dalal Street: Sensex plunges 1,677 points, Nifty drops 517 amid Iran-US tensions

On Wednesday, Indian benchmark equity indexes suffered their steepest one‑day drop in over three months, as rising tensions in West Asia eroded investor confidence and triggered a wide‑ranging sell‑off across sectors.

The Sensex fell 1,677.12 points (‑2.15 %) to finish at 76,503.60, and the Nifty slipped 516.65 points (‑2.12 %) to close at 23,882.05.

Analysts noted that, from a technical standpoint, the 24,000 mark is likely to serve as the first resistance barrier, with the 24,200 level acting as the next hurdle.

“A lasting breach above these points is needed to strengthen the short‑term technical picture,” remarked a market specialist.

“On the downside, the 23,800 area remains a key support. A clear break beneath it could amplify selling pressure and push the index toward the 23,600‑23,500 band,” said the analyst.

The steep decline followed a weakening risk appetite sparked by fresh geopolitical unrest in West Asia that shook global markets.

Investor worries rose after US President Donald Trump declared the Iran ceasefire finished, noting that talks could still proceed after mutual strikes in the Strait of Hormuz.

Escalating tensions led investors to cut back on equity holdings, producing broad‑based losses throughout the market.

Within the Nifty pack, Jio Financial Services, InterGlobe Aviation and Shriram Finance were the top underperformers. Only four constituents finished the day in the green, with the rest ending in red.

The drop was sector‑wide, especially hurting banking stocks. Both the Nifty PSU Bank and Nifty Bank indexes posted the poorest sector performance of the session.

In contrast, the Nifty Metal and Nifty Pharma indexes fell less than peers, outperforming other sectors even though they closed lower.