Nifty slips, Sensex falls at open as oil jumps on US–Iran strikes

Indian equities opened sharply lower on Thursday, with the Sensex falling over 400 points and the Nifty 50 slipping below 23,100, as a spike in crude prices following fresh US strikes on Iran and weak global cues hit risk appetite.

Market overview

Index	11 Jun 2026 Open / Early Trade	Move & % Change	Comments
Sensex	approx. 73,550	about -400 pts (around -0.5%)	Gapped lower, extended pre-open losses on oil, global risk-off.
Nifty 50	approx. 23,080	about -135 pts (around -0.6%)	Dropped below 23,100 after weak global cues and higher crude.
Bank Nifty	approx. 54,900	about -200 pts (around -0.4%)	Continued profit booking after Wednesday’s 55,100 close.
India VIX	n.a.	n.a.	Volatility expected higher amid geopolitical tensions.

Note: figures are approximate; final exchange data not available at time of publication.

• GIFT Nifty traded near 23,122, about 117 points below previous Nifty futures close.
• Asian equities tracked Wall Street losses after a stronger US inflation print.
• Brent futures climbed to around 94.5–95 dollars a barrel, WTI near 91.7 dollars.
• Closure of the Strait of Hormuz and US–Iran strikes raised supply and inflation concerns.

Key market statistics

Statistic	Value/Change	Context
Rupee vs USD	95.60, down 35 paise	Weaker open as higher oil revives external deficit worries.
Gold (Delhi, 24k)	₹1,19,200 / 8g	Safe-haven demand firm amid geopolitical tensions.
Benchmark 6.94% 2036 yield	Seen 6.92%–6.98%	Bond traders expect further selloff as oil rises.

• Traders cited likely Reserve Bank of India intervention to curb excessive rupee weakness.
• Overnight index swaps were expected to edge higher, tracking crude.

Global cues

Market/Asset	Movement	Notes
MSCI Asia ex-Japan	down 0.9%	Dragged by a 3% fall in South Korea’s KOSPI.
Nikkei 225 futures (OSE)	down 1.2%	Japan equities weakened after US inflation surprise.
Topix	down 1.2%	Broad-based selling in Japanese shares.
S&P/ASX 200	down 0.4%	Australia tracked global risk-off mood.
Hang Seng	down 0.1%	Mild decline, relatively resilient in Asia.
Shanghai Composite	down 0.2%	Marginal losses in mainland China.
Euro Stoxx 50 futures	down 0.5%	Europe set for weaker open.
Brent crude	around +95 dollars	Spiked after US–Iran escalation and Hormuz closure.

• US S&P 500 futures were little changed after an earlier selloff in semiconductor stocks.
• US inflation was reported at 4.2%, reinforcing expectations of higher-for-longer rates.

Sectoral action

Sector/Index	Direction (approx.)	Key Drivers
IT	down	Stocks like HCL Tech fell up to 2% at open.
Consumer / Paints	down	Asian Paints dropped around 2% in early trade.
Banks	down	Bank Nifty extended profit booking from 55,500–55,600 zone.
Energy & Oil-linked	mixed to up	Benefited from higher crude price expectations.

• Early trade showed broad-based declines, with defensives relatively better bid.
• Banking stocks still traded above the 20-day EMA, keeping the broader trend constructive.

Key movers and deals

Top block and bulk deals

Stock	Sector	Notable Factor
Lenskart Solutions	Retail / Eyewear	3.8 crore shares traded pre-market at ₹490, about ₹1,862 crore block.
CMR Green Technologies	Metals recycling	Goldman Sachs India Equity Portfolio bought 19.41 lakh shares at ₹256.64.
Sapphire Foods India	QSR	T. Rowe Price bought 24.62 lakh shares; Govt of Singapore sold 21.8 lakh.
Meesho	E-commerce	Fidelity vehicles sold 5.97 crore shares at around ₹165 each.

• Abu Dhabi Investment Authority vehicle Platinum Jasmine planned to sell a 2.3% stake in Lenskart, worth up to ₹1,944 crore.
• Lenskart stake sale followed recent stake trimming by other large investors.

Corporate and banking developments

• Power Grid Corporation of India board cleared SCADA system upgradation worth ₹485.04 crore.
• Power Grid also approved an unsecured term loan of JPY 80 billion from JBIC and others.
• Venkata S V was appointed Chief Financial Officer of Power Grid effective 1 July.
• Central Bank of India raised FCNR(B) deposit rates by up to 253 bps, with up to 6% for 3–5 years.
• Punjab National Bank revised FCNR(B) rates up to 6.10%, targeting about 2.5 billion dollars mobilization.
• PPAP Automotive entered a strategic partnership with Hutchinson to manufacture advanced body sealing systems in India.
• Deccan Gold Mines agreed to invest €1.76 million for a 51% stake in Spain’s Logrosan Minera SL by March 2027.
• Vascon Engineers received an LoI worth ₹347.43 crore from CPWD for RBI quarters redevelopment in Guwahati.
• Zee Entertainment Enterprises board approved plans to raise at least ₹2,300 crore in one or more tranches.

Technical outlook: Nifty, Sensex and Bank Nifty

• Nifty 50 closed Wednesday at 23,214.95, down 27.15 points.
• The index formed a gravestone doji-like pattern, signalling rejection at higher levels.
• Significant call writing was seen at 23,300 and 23,400 strikes; puts at 23,200 and 23,000.
• Immediate Nifty support: 23,100, then 23,000; resistance: 23,450, then 23,600.
• Analysts flagged the 23,000–23,100 band as a key support zone.
• A close below 23,000 could open downside towards 22,700–22,750.
• Sensex closed Wednesday at 73,983.18, up 64.42 points, forming an inverted hammer-like candle.
• Sensex resistance is seen near 74,300; support around 73,600–73,500.
• Bank Nifty ended Wednesday at 55,100.30, down 94.20 points, with a small-bodied candle and upper wick.
• Immediate Bank Nifty support lies at 54,700–54,600, then 54,200–53,800.
• Resistance for Bank Nifty is placed at 55,500–55,600; a break could target 56,000–56,500.

FAQs

Q: Why did Nifty and Sensex open lower today?

• Renewed US–Iran tensions, a spike in Brent crude near 95 dollars, weak Asian markets and a softer rupee weighed on sentiment, pulling the indices down at the open.

Q: What are the key support and resistance levels for Nifty 50 now?

• Immediate support is in the 23,100–23,000 zone, while resistance is seen around 23,450–23,550, then 23,600, based on recent options activity and chart patterns.

Q: Which stocks and sectors are in focus in early trade?

• Lenskart after a large block deal and planned ADIA stake sale, IT and consumer names like HCL Tech and Asian Paints on early declines, and banks as they digest profit booking and higher global yields.

Frequently Asked Questions

Why did Nifty and Sensex open lower today?

Renewed US–Iran tensions, a spike in Brent crude near 95 dollars, weak Asian markets and a softer rupee hit risk appetite, dragging both indices lower at the open.

What are the key support and resistance levels for Nifty 50 now?

Analysts see support in the 23,100–23,000 zone and resistance around 23,450–23,550, then 23,600, with a close below 23,000 potentially opening downside towards 22,700–22,750.

Which stocks and sectors are in focus in early trade?

Lenskart after a large block deal and ADIA stake sale plan, IT and consumer names like HCL Tech and Asian Paints on early declines, and banking stocks as they face profit booking but remain above key moving averages.