Sensex tanks over 400 pts in early trade; Nifty drops below 14,800
Mumbai: Equity benchmark Sensex tumbled over 400 points in early trade on Monday, dragged by losses in index majors HDFC twins, ICICI Bank and Reliance Industries despite a positive trend in global markets.
The 30-share BSE index was trading 434.90 points or 0.87 per cent lower at 49,594.93, and the broader NSE Nifty dropped 109.35 points or 0.74 per cent to 14,758.
IndusInd Bank was the top laggard in the Sensex pack, shedding over 3 per cent, followed by Bajaj Finance, Axis Bank, SBI, Bajaj Auto, Bajaj Finserv, ICICI Bank, HDFC twins and Reliance Industries.
On the other hand, Infosys, HCL Tech, Tech Mahindra, TCS and Bharti Airtel were among the gainers.
In the previous session on Thursday, Sensex ended 520.68 points or 1.05 per cent higher at 50,029.83, and Nifty rose 176.65 points or 1.2 per cent to settle at 14,867.35.
Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 149.41 crore on Thursday, as per exchange data.
Financial markets were closed on April 2, for Good Friday'.
Domestic equities do not look to be inspiring at the moment. A sharp spike in coronavirus cases in the country and resultant restrictions are likely to dent investors' sentiments in the near term, said Binod Modi, Head - Strategy at Reliance Securities.
"Imposition of weekend lockdown in Maharashtra, which contributes over 13 per cent of the country's GDP and nearly 20 per cent of India's industrial output, does not augur well," he added.
Elsewhere in Asia, bourses in Seoul and Tokyo were trading on a positive note in mid-session deals. Markets in Shanghai, Hong Kong and Australia were closed for holidays.
Meanwhile, the global oil benchmark Brent crude was trading 0.89 per cent lower at USD 64.28 per barrel.
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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
