Stock Market Today: Sensex Over 200 Points Down, Nifty Tests 24,550 As US-Iran Deal Hopes Fade
ExplorerAt around 9:10 AM, the Sensex was trading at 78,509. 77, down 32. 67 points, or 0. 04 per cent, while the Nifty stood at 24,575. 10, lower by 8. 70 points, or 0. 04 per cent. Written By :Sakshi Arora|. . .
ExplorerAt around 9:10 AM, the Sensex was trading at 78,509. 77, down 32. 67 points, or 0. 04 per cent, while the Nifty stood at 24,575. 10, lower by 8. 70 points, or 0. 04 per cent. Written By :Sakshi Arora| Updated at : 11 Aug 2026 09:22 AM (IST)Oil prices moved higher as investors assessed the outlook for global supplies amid signs of an impasse in US-Iran discussions. Show Quick ReadKey points generated by AI, verified by newsroomIndian indices opened lower on global, crude oil concerns. Wall Street closed lower; Asian markets recorded modest gains. Crude oil prices rose; precious metals also advanced in trading. Indian benchmark indices opened in red on Tuesday as fading hopes of a near-term agreement between the United States and Iran kept investors cautious. Mixed global cues and rising crude oil prices also remained key factors influencing market sentiment. The BSE Sensex plunged more than 200 points and tested 78,300, while the NSE Nifty50 opened the session under 24,550, falling almost 50 points, as of 9:15 AM. GIFT Nifty, Global Cues Keep Markets CautiousThe subdued opening came as investors assessed the latest developments surrounding the US-Iran situation, with expectations of a near-term deal appearing to weaken. At around 9:10 AM, the Sensex was trading at 78,509. 77, down 32. 67 points, or 0. 04 per cent, while the Nifty stood at 24,575. 10, lower by 8. 70 points, or 0. 04 per cent. Asian markets, however, traded higher in early deals. Hong Kong's Hang Seng gained 0. 42 per cent, while South Korea's Kospi advanced 0. 32 per cent as investors weighed developments in West Asia alongside overnight cues from Wall Street. Wall Street Ends LowerUS equities closed marginally lower in the previous session. The Dow Jones Industrial Average declined 0. 11 per cent, while the S&P 500 slipped 0. 06 per cent. The Nasdaq Composite ended 0. 32 per cent lower. The mixed performance on Wall Street, particularly weakness in technology stocks, has added to the cautious tone in Asian trading. Also Read :HDFC Bank MCLR Cut: Will Your EMI Actually Fall? Here's What Borrowers Need To CheckCrude Oil Rises On Supply ConcernsOil prices moved higher as investors assessed the outlook for global supplies amid signs of an impasse in US-Iran discussions. US petroleum reserves fell below 300 million barrels, reaching their lowest level since 1983, adding to concerns over the future supply situation. Brent crude futures rose 0. 09 per cent to $87. 80 per barrel on the Intercontinental Exchange. For Indian equities, crude oil remains an important market trigger as sustained higher prices can influence inflation, the rupee and corporate margins. Gold, Silver GainPrecious metals also witnessed buying interest in early trade. Gold futures rose 1. 51 per cent, while silver futures gained 2. 02 per cent, as investors continued to monitor geopolitical developments and broader global market uncertainty. Sensex, Nifty Remain In A RangeMarket action in the previous session remained largely range-bound, according to Shrikant Chouhan, Head of Equity Research at Kotak Securities. Chouhan said the Nifty gained 13 points while the Sensex advanced 43 points, with the Capital Market and Realty indices rising more than 1 per cent. In contrast, PSU Banks and Defence stocks declined by more than 1 per cent. He noted that the benchmarks remained within a narrow range during the session, with technical indicators pointing towards a lack of clear direction. The formation of a small candle on the daily chart also suggested "indecisiveness between the bulls and bears". According to Chouhan, 24,650-24,700 will remain an important resistance zone for the Nifty, while 78,800-79,000 will be key levels for the Sensex. A decisive move above these levels could take the Nifty towards 24,800 and the Sensex towards 79,300. On the downside, a break below 24,500 for the Nifty and 78,300 for the Sensex could increase selling pressure. Further weakness could take the indices towards 24,400-24,350 and 78,000-77,800, respectively. Also Read :8th Pay Commission: Central Government Teachers Seek OPS Return, Retirement Age Hike To 65Frequently Asked QuestionsWhy did Indian benchmark indices open lower on Tuesday?Indian benchmark indices opened in red due to fading hopes of a US-Iran agreement, mixed global cues, and rising crude oil prices. The Sensex plunged over 200 points, and the Nifty fell almost 50 points. What impact did crude oil prices have on the markets?Crude oil prices rose due to supply concerns and the US-Iran impasse. Higher crude prices are an important market trigger for Indian equities, potentially influencing inflation, the rupee, and corporate margins. How did gold and silver perform in early trade?Both gold and silver saw buying interest in early trade, with gold futures rising 1. 51% and silver futures gaining 2. 02%. This was due to geopolitical developments and global market uncertainty. What are the key resistance levels for Nifty and Sensex?For Nifty, 24,650-24,700 is a key resistance zone. For Sensex, the important resistance levels are 78,800-79,000. Sakshi Arora is Chief Copy Editor atABP Live English, working on business stories that track markets, global economies and key financial trends. A quick and dependable hand on the desk, she balances numbers with nuance, and is an expert on everything Personal Finance, Mutual Funds, and IPOs. For any tips and queries, you can reach out to her atsakshia@abpnetwork. com. Read MorePublished at : 11 Aug 2026 09:19 AM (IST)Breaking News, Anytime, Anywhere - Download ABPLIVE onAndroidandiOSnow!VideosPhoto GalleryTrending OpinionNayanima BasuOpinion