Sensex Topples 821.79 Points, Nifty 23,890.35 As Crude Oil Prices Skyrocket Due To Trump's Naval Blockade

Mumbai: On Thursday, Sensex tumbled 821.79 points to 76,674.57 in early trade; Nifty dived 287.3 points to 23,890.35. Indian equity benchmarks ended higher on Wednesday, but surrendered a large portion of their intra-day gains as a sharp rise in global crude oil prices weighed on investor sentiment.

According to IANS, the Nifty closed at 24,177.65, up 0.76 per cent or 181.95 points, while the Sensex settled at 77,496.36, gaining 0.79 per cent or 609.45 points. From a technical standpoint, experts said that on the upside, 24,200 remains the first resistance.

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Market Ends in Green, Sensex Closes 600 Points Up, Nifty Gains Over 0.7% Despite Weak Global Cues

Market momentum was tempered after Brent crude prices surged over 3 per cent to $114.60 per barrel on the Intercontinental Exchange. The spike in oil prices followed stalled talks between the United States and Iran, raising concerns about supply disruptions. Adding to the uncertainty, the United Arab Emirates announced its decision to exit the Organization of Petroleum Exporting Countries (OPEC) effective May 1, further fuelling volatility in global energy markets.

Despite the late-session pullback, select heavyweights provided support to the indices. ITC, Tech Mahindra and Maruti Suzuki India emerged as the top gainers in the Nifty, helping the benchmarks maintain their positive closing. Analysts said that while domestic equities managed to close in the green, rising crude prices and geopolitical developments continue to pose near-term risks, potentially capping further upside in the markets.

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