Nifty Cracks Below 25k: Why Stock Market is Down Today? Check Details

Nifty below 25k: Stock markets witnessed a bloodbath on Thursday as escalating tensions in West Asia weighed down the overall investor sentiment. Adding to the woes, foreign investors sold shares worth Rs 446.31 after a continuous buying spree.

Nearly all stocks from the BSE Sensex30 pack, were trading in red, except Bajaj Finserv, Tech Mahindra and Asian Paints. Whereas Tata Motors, L&T, Titan, Tata Steel and Powergrid were among the top laggards. All sectors were trading in red. Nifty Energy was the worst-performing index, falling over 600 points or 1.74%. Nifty IT, followed suit and plummeted over 300 points or more than 0.8%

At 2:45 pm, BSE Sensex30 was trading at level mark 81,738.95, down by 776 points or 0.94%. NSE Nifty50 broke below the psychological 25k level, down by more than 240 points or 0.97%.

Meanwhile, weekly expiry added to the bearish sentiment.

Here's why the markets are trading down today-

Israel-Iran Conflict

Tensions are once again escalating in West Asia as the US administration partially evacuated its personnel from its Iraq embassy owing to the Israel-Iran conflict. “They are being moved out because it could be a dangerous place, and we’ll see what happens,” US President Trump reportedly told reporters at the Kennedy Center in Washington, D.C. “We’ve given notice to move out," he further added.

Tariff Turbulence

With trade talks and FTAs in full swing, many had been expecting positive news on the tariff front. However, those hopes are now waning as US President Donald Trump announced plans to send letters to trading partners within the next one to two weeks, ahead of the July tariff deadline. "At a certain point, we’re just going to send letters out... saying this is the deal, you can take it or leave it," Trump reportedly said in Washington.

Brent Crude Surges

Oil price levels witnessed a sharp rise. "The spike in Brent crude to $70 on heightened security risks in the Middle East is a negative for India. Sectors like paints, adhesives, tyres and aviation are likely to respond negatively to this while ONGC and Oil India can respond positively," said VK Vijayakumar, chief investment strategist, Geojit Investments.