Stock market today: NSE Nifty50 tumbles 2%, BSE Sensex sinks over 1,300 points as Trump's speech on Iran war endgame

Stock market opened in red on Thursday, with benchmark indices falling around 2% as investor sentiments were dragged down by fresh geopolitical tensions. The fall came after US President Meanwhile in commodity markets, oil prices showed recovery after Trump's speech.

In early trade, both key benchmarks slipped by more than $1 as markets awaited Trump’s address to the nation. Brent crude futures dropped $1.16, or 1.15%, to $100 a barrel by 1204 GMT, while US West Texas Intermediate crude fell $1.41, or 1.41%, to $98.71 a barrel. However, later in the session, Brent crude climbed more than 4% to touch $106, while West Texas Intermediate rose 3% to $103.

Thursday’s weak start for the Dalal Street comes after equities bagged gains in the previous session. On Wednesday, the BSE Sensex climbed 1,186.77 points, or 1.65%, to end at 73,134.32, driven by sustained buying throughout the day.

At its peak, the index had rallied 2,017.03 points, or 2.80%, reaching 73,964.58.The NSE Nifty 50 also posted gains, rising 348.00 points, or 1.56%, to close at 22,679.40, comfortably moving past the 22,650 mark. The rally added Rs 9.60 lakh crore to investor wealth in a single session, as optimism around a possible end to the West Asia conflict boosted sentiment.After the rise, market capitalisation of BSE-listed firms rose by Rs 9,60,261.03 crore to Rs 4,22,01,433.48 crore (USD 4.46 trillion), reflecting the broad-based strength seen across sectors. The upward momentum was supported by gains in global markets and a decline in crude oil prices after two consecutive sessions of losses.