The SENSEX Index Closes 0.71% Lower

India’s BSE Sensex Index dropped nearly 2% to below 71,700 on Thursday, after a strong 1.8% gain in the previous session, as sentiment weakened across Asian markets following US President Donald Trump’s remarks on the Iran conflict. During his televised speech, Trump said Washington’s “core strategic objectives” in the war were nearing completion but stopped short of providing a clear timeline for its end, instead warning that the US could strike Iran “extremely hard” over the next two to three weeks. The lack of a clear de-escalation path reignited geopolitical concerns, driving crude oil prices higher and weighing on regional equities. Nearly all sectors declined, led by financials and banking stocks. Notable losses were seen from HDFC Bank (-1.1%), Axis Bank (-2.7%), Bajaj Finance (-2.2%), and Shriram Finance (-3.4%). On the macro side, markets await final figures for manufacturing PMI to gauge the country' s economic health.

India’s BSE Sensex finished about 1.8% firmer at 73,273 on Wednesday, recovering from its steepest drop since 2020 in March, on easing geopolitical concerns. Global market sentiment improved after President Trump indicated that the US could exit Iran in two or three weeks, citing no compelling reason to continue the conflict. On the Iranian side, President Masoud Pezeshkian expressed willingness to end the war if security guarantees are ensured. Sentiment received an additional boost after the RBI postponed stricter broker funding norms to July 1, 2026. Most indices recorded gains, with Trent (+6.7%) emerging as the top performer. InterGlobe Aviation surged 6.2% on the back of falling oil prices and the naming of former British Airways chief Willie Walsh as its new CEO. Larsen & Toubro, with strong Middle East exposure, gained roughly 3%. Heavyweights Bajaj Finance and HDFC Bank rose 2.5% and 1.4%, respectively. Among the few losers, NTPC and Sun Pharma fell the most, each down 1.6%.

India’s BSE Sensex rose about 2.4% up at 73,657 on Wednesday, recovering from losses in the previous two sessions, driven by optimism that the conflict in the Middle East could end soon, which pushed oil prices lower. US President Trump said Washington could end its military actions on Iran within two to three weeks and added that Iran would not need to strike a deal for the conflict to wind down. Meanwhile, India’s final HSBC Manufacturing PMI for March is expected to ease at 55.2 on Thursday, revised from 53.8 in the preliminary data and down from February’s 56.9. On the corporate front, auto stocks drew focus as companies reported March sales, IndiGo appointed Willie Walsh as CEO, Jubilant FoodWorks announced it would end its Dunkin’ partnership after 2026, and Tenneco Clean Air India received a “buy” rating from Citi due to growth linked to its parent company. Among the early gainers were BSE (6.9%), Bharat Electronics (6%), HDFC Bank (2.9%), ICICI Bank (1.4%), and Vedanta (3.4%).