Sensex slumps over 1,100 pts in early trade; Nifty falls below 16,950
Mumbai(PTI): Equity benchmark Sensex tanked over 1,100 points or 2 per cent in opening trade on Thursday, tracking losses in index-majors Titan, Wipro and HDFC twins amid a weak trend in the Asian markets.
The US Federal Reserve's indication to raise interest rates soon and persistent foreign fund outflows weighed on market sentiment, traders said.
The BSE gauge was trading 1,155.61 points or 2 per cent lower at 56,702.54 in early trade. Likewise, the Nifty declined 329.15 points or 1.91 per cent to 16,948.80.
Titan was the top loser in the Sensex pack, shedding 4.06 per cent, followed by Wipro, Dr Reddy's, HDFC Bank, Tech Mahindra and Infosys.
On the other hand, Maruti and NTPC were the gainers. Equity, forex and bullion markets were closed on Wednesday on account of Republic Day.
On Tuesday, the 30-share BSE Sensex finished 366.64 points or 0.64 per cent higher at 57,858.15. Similarly, the broader NSE Nifty rose 128.85 points or 0.75 per cent to close at 17,277.95.
The US Fed on Wednesday indicated that it may raise interest rates in March to fight inflation. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with deep losses in mid-session deals.
Stock exchanges in the US ended on a mixed note in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.93 per cent to USD 89.12 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 7,094.48 crore Tuesday, as per provisional data.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
