The Nifty50 and the Sensex were trading near the day’s low as IT stocks weighed. Investors feared the geopolitical situation could drag on after the US and Iran talks failed, which further exerted pressure.
The Nifty50 was trading 0.84 per cent or 204.95 points down at 24,375.55, and the Sensex was trading 0.96 per cent or 758.04 points down at 78,515.29.
The Nifty Volatility Index rose 3.6 per cent to 18.16, indicating a slight increase in the near-term uncertianty.
Broader markets were trading on a mixed note. The Nifty MidCap was 0.04 per cent down, and the Nifty SmallCap was 0.41 per cent higher.
Sector-wise, the Nifty IT declined the most. The Nifty Healthcare and the Nifty Pharma also underperformed. Meanwhile, the Nifty Construction Durable and the Nifty Metal outperformed.
The US has extended the ceasefire with Iran until the latter produces a unified resolution proposal. President Donald Trump cited a ‘seriously fractured Iranian Government’ while announcing the extension in a post on the Truth social media.
However, the blockade at the Strait of Hormuz will continue, Trump said.
The ceasefire extension announcement came after US Vice President JD Vance’s meeting with Iranian counterparts did not take place as Tehran stated it would not attend further talks, according to reports.
Q4 results today
Bharat Coking Coal, Delta Corp, Havells India, L&T Technology Services, Oracle Financial Services Software, SBI Life Insurance Company, Tata Communications, and Tech Mahindra will announce their March quarter results.
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