Indian equities ended sharply lower on April 22, tracking mixed global cues and persistent uncertainty around US-Iran tensions, with IT stocks leading the sell-off.
The Sensex declined 757 points, or 0.95 percent, to close at 78,516, while the Nifty 50 fell 198 points, or 0.8 percent, to settle at 24,378.
Intraday, the Sensex dropped as much as 831 points to 78,442.30, and the Nifty slipped 224 points to 24,352.90.
Losses were led by IT majors including HCL Technologies, Infosys and Tata Consultancy Services, along with Mahindra & Mahindra.
On the other hand, defensives such as Hindustan Unilever and NTPC managed to post gains.
Market breadth remained mixed with a defensive tilt. FMCG, realty, metals and select midcap stocks saw buying interest, while IT, financial and banking stocks continued to face selling pressure.
Investor sentiment stayed fragile after Donald Trump announced an indefinite extension of the Iran ceasefire, even as the US maintained its naval blockade of Iranian ports.
The Strait of Hormuz remains largely shut, sustaining concerns over global oil supply. Diplomatic progress appeared limited, with JD Vance postponing a planned visit to Pakistan for talks.
Global cues remained subdued:
US futures pointed to a mild rebound, with S&P futures up 0.6 percent and Nasdaq futures gaining 0.7 percent
European markets were marginally higher in early trade
Asian markets traded mixed, with MSCI’s Asia-Pacific index (ex-Japan) down 0.5 percent after a recent rally
The dollar index hovered near 98.27, staying volatile after recent swings, while oil prices eased slightly. Brent crude slipped below the $100 mark to around $98 per barrel.
Despite the ceasefire extension, markets remain on edge. The continued closure of key shipping routes and lack of clear progress in US-Iran negotiations are likely to keep volatility elevated in the near term, with global cues and sectoral rotation driving market direction.
