Updated on: Apr 07, 2026 10:13:32 AM IST
The National Stock Exchange building in Bandra Kurla Complex, Mumbai.
India’s stock market declined at the opening bell today, as uncertainty over a potential resolution to the Iran war lingered. The 30-share S&P BSE Sensex declined as much as 1.11%, or 824.44 points, to an intraday low of 73,282.41 points, even as the wider NSE Nifty 50 fell 1.08%, or 248.95 points, to 22,719.30. Fourteen of the 16 major sectors declined. The broader small-caps and mid-caps lost 0.5% and 1%, respectively. The rupee, meanwhile, strengthened 8 paise against the US dollar to 92.98.
Both Nifty 50 and Sensex had opened lower on Monday but reversed course to end about 1.1% higher as the US and Iran weighed a framework for ending their conflict. However, optimism faded soon.
Trump reiterated threats to strike Iran’s power plants and civilian infrastructure unless Tehran reaches a deal by 8:00 pm Eastern Time Tuesday or 5:30 am IST on Wednesday to reopen the Strait of Hormuz. Iran said it wanted a permanent end to the conflict and not a temporary ceasefire.
Oil extended gains and hovered around $111 a barrel, as Trump intensified his rhetoric against Iran. Elevated crude oil prices strain India’s import bill and weigh on economic growth and corporate margins.
“Markets are likely to remain highly sensitive to developments in the Iran war, movements in crude oil prices and trends in foreign flows,” Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services, said in an email to Hindustan Times. “As Trump’s deadline to Iran nears end, near-term uncertainty is likely to be elevated in the session.”
The Nifty 50 and the S&P BSE Sensex have each fallen about 9% since the Iran war began on 28 February, with foreign institutional investors offloading $15.8 billion worth of shares, including a record $12.7 billion in March.
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Both Nifty 50 and Sensex had opened lower on Monday but reversed course to end about 1.1% higher as the US and Iran weighed a framework for ending their conflict. However, optimism faded soon.
Trump reiterated threats to strike Iran’s power plants and civilian infrastructure unless Tehran reaches a deal by 8:00 pm Eastern Time Tuesday or 5:30 am IST on Wednesday to reopen the Strait of Hormuz. Iran said it wanted a permanent end to the conflict and not a temporary ceasefire.
Oil extended gains and hovered around $111 a barrel, as Trump intensified his rhetoric against Iran. Elevated crude oil prices strain India’s import bill and weigh on economic growth and corporate margins.
“Markets are likely to remain highly sensitive to developments in the Iran war, movements in crude oil prices and trends in foreign flows,” Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services, said in an email to Hindustan Times. “As Trump’s deadline to Iran nears end, near-term uncertainty is likely to be elevated in the session.”
The Nifty 50 and the S&P BSE Sensex have each fallen about 9% since the Iran war began on 28 February, with foreign institutional investors offloading $15.8 billion worth of shares, including a record $12.7 billion in March.
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Apr 07, 2026 10:06:30 AM IST
Wipro leads Nifty IT gains after biggest M&A deal
Wipro Ltd. is powering Nifty IT higher today, following its billion-dollar contract with Singapore’s Olam Group for an agritech push. Coforge Ltd., Mphasis Ltd. and Persistent Systems Ltd. also advanced 1.19%, 1.07% and 0.97%, respectively.
Apr 07, 2026 10:04:14 AM IST
Air India CEO Campbell Wilson resigns, Mint says
Campbell Wilson, the chief executive officer tasked with leading the Tata Group’s ambitious overhaul of Air India Ltd., has resigned from the airline, Mint reported, citing people with direct knowledge of the matter.
Wilson is currently serving his notice period, said the people, who asked not to be identified as the information is private. It remains unclear when his tenure will officially conclude or if Tata Group has identified a successor for the nation’s second-largest carrier.
A spokesperson for Air India did not immediately respond to Mint’s email seeking comment. Read more.
Apr 07, 2026 9:34:07 AM IST
Motilal Oswal cuts Nifty 50 EPS to ₹1,246 for FY27
Motilal Oswal Financial Services Ltd. has cut its Nifty 50 EPS estimate by 1.3% to ₹1,246 for FY27. The brokerage expects Nifty 50 firms to report 6% year-on-year profit growth in Q4 FY26, on the back of a 13% year-on-year growth in revenue.
Apr 07, 2026 9:31:04 AM IST
Hindalco emerges top Nifty 50 gainer on JPMorgan upgrade
Hindalco Industries Ltd. emerged as the top gainer on the Nifty 50 after JPMorgan Chase & Co. upgraded the stock to “overweight” from “neutral” and raised the target price to ₹1,125 from ₹875.
The Iran war is likely to keep aluminium prices higher for longer, which works to the advantage of Hindalco—the largest producer of the metal globally, according to the brokerage.
The worst may be behind for Novelis, JPMorgan said, while tailwinds in Hindalco’s India business should help ease debt concerns.
Apr 07, 2026 9:22:37 AM IST
Opening Bell: Sensex, Nifty 50 decline, rupee gains
The 30-share S&P BSE Sensex fell as much as 0.50% at the opening bell, even as the wider NSE Nifty 50 fell below 22,900 points. The rupee, meanwhile, strengthened 8 paise to 92.98/dollar.
Apr 07, 2026 8:50:46 AM IST
Hindalco Industries Ltd. and Vedanta Ltd. could rise after JPMorgan upgrades the aluminium makers to “overweight” from “neutral” on higher prices due to the Iran war.
Godrej Consumer Products Ltd. expects a close-to-double-digit growth in revenue in the March quarter, flags a potential 6%-9% rise in costs due to higher crude, palm oil prices.
PC Jeweller says its Q4 revenue rose about 32% year-on-year while full-year revenue grew 49% in FY26.