Tariffs, West Asia War Terror Strike Dalal Street: Sensex Tanks 400 Points, Nifty Tests 24,100
by Sakshi Arora · abp LiveAt around 9:03 AM, the Sensex was trading at 77,475.85, up 5.74 points or 0.01 per cent. The Nifty slipped 99.65 points, or 0.41 per cent, to 24,087.40.
Written By : Sakshi Arora | Updated at : 22 Jul 2026 09:52 AM (IST)
Crude oil prices moved higher on Wednesday morning after renewed geopolitical tensions in West Asia.
Source : ABPLIVE AI
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Key points generated by AI, verified by newsroom
- Indian markets opened subdued amidst rising crude oil.
- US-Iran tensions escalated crude oil, precious metal prices.
- Global markets rallied strongly on positive corporate earnings.
Indian benchmark indices opened on a subdued note on Wednesday as investors remained cautious amid a fresh rise in crude oil prices and escalating tensions between the United States and Iran.
The BSE Sensex rang the opening bell above 77k, crashing close to 400 points, while the NSE Nifty50 started trading around 24,100, bleeding nearly 100 points, as of 9:15 AM.
GIFT Nifty Signals Weak Opening
Ahead of the opening bell, GIFT Nifty was trading at 24,102, down 79 points, indicating a soft start for Indian benchmark indices.
At around 9:03 AM, the Sensex was trading at 77,475.85, up 5.74 points or 0.01 per cent. The Nifty slipped 99.65 points, or 0.41 per cent, to 24,087.40.
Investor sentiment remained restrained as higher crude oil prices and geopolitical uncertainty overshadowed positive global market cues. Market participants are also expected to track quarterly earnings announcements, commodity prices and institutional fund flows during the session.
Asian Markets Rally After Wall Street Gains
Most Asian markets traded firmly higher on Wednesday, taking cues from a strong overnight performance on Wall Street after better-than-expected earnings from major semiconductor companies boosted risk appetite.
Japan's Nikkei 225 advanced 1.93 per cent, while South Korea's Kospi surged 6.01 per cent in early trade.
US equities also ended higher overnight. The Dow Jones Industrial Average gained 0.74 per cent, the S&P 500 rose 0.89 per cent, and the Nasdaq Composite climbed 1.29 per cent, supported by optimism surrounding corporate earnings.
Also Read : Trump Unveils Up To 200% Tariff On Generic Drugs By 2028: What It Means For India
Pharma Crashes More Than 1%
The Nifty Pharma bled over 1 per cent as markets opened to the possibility of more tariffs ahead on generic drugs imported to the US. The American President on Tuesday announced nil tax on these drugs for the first two years, followed by a 100 per cent tariff for the first year and 200 per cent thereafter.
This measure triggered a panic amongst investors, with Sun Pharma, one of the biggest Indian players in the American market, crashing over 1 per cent.
Oil Prices Climb
Crude oil prices moved higher on Wednesday morning after renewed geopolitical tensions in West Asia.
Investor concerns intensified after US President Donald Trump played down the possibility of negotiations with Iran, while Washington continued military strikes on Iranian targets.
Gold And Silver Extend Gains
Precious metals also witnessed fresh buying amid heightened geopolitical uncertainty.
Gold futures were trading 1.21 per cent higher, while silver futures gained 1.9 per cent in early trade as investors sought safe-haven assets.
Also Read : Volkswagen In Advanced Talks With JSW For India Partnership: Report
Q1 Earnings In Focus
Corporate earnings will remain one of the key drivers for markets during the session, with several companies scheduled to announce their June quarter (Q1 FY27) results.
Among the prominent companies reporting earnings today are Adani Green Energy, Adani Power, Bharat Petroleum Corporation (BPCL), Dr Reddy's Laboratories, Hindustan Petroleum Corporation (HPCL), IndusInd Bank, JSW Energy, Nestlé India, Tata Communications, UCO Bank, United Spirits and UTI Asset Management Company.
Investors are expected to closely monitor these earnings for management commentary on demand trends, margins and the outlook for the remainder of FY27.
Frequently Asked Questions
Why did Indian benchmark indices open on a subdued note?
Indian benchmark indices opened subdued due to a fresh rise in crude oil prices and escalating tensions between the United States and Iran. Investor sentiment remained restrained by these factors.
How did Asian markets perform on Wednesday?
Most Asian markets traded firmly higher, taking cues from a strong overnight performance on Wall Street. Better-than-expected earnings from major semiconductor companies boosted risk appetite.
What factors are influencing crude oil and precious metal prices?
Crude oil prices climbed due to renewed geopolitical tensions in West Asia. Gold and silver extended gains as investors sought safe-haven assets amid heightened uncertainty.
What are investors focusing on regarding corporate earnings?
Investors are closely monitoring management commentary on demand trends, margins, and the outlook for the remainder of FY27. Corporate earnings are a key driver for markets.
About the author Sakshi Arora
Sakshi Arora is Chief Copy Editor at ABP 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 at sakshia@abpnetwork.com.
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Published at : 22 Jul 2026 09:20 AM (IST)
Tags :
Sensex Tariffs Oil Prices Q1 Earnings Share Market Today GIFT Nifty West Asia War
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