Stock market today, 9 April 2026: Following weak global market cues after a dent in hopes of a ceasefire in the US-Iran war and renewed inflationary fears amid rising crude oil prices, the key benchmark indices of the Indian stock market are reeling under sell-off pressure. The Nifty 50 index opened with a downside gap at 23,909 and touched an intraday low of 23,759, logging a loss of around 238 points or nearly one per cent below its yesterday’s close of 23,997.
The BSE Sensex opened lower at 77,319 and touched an intraday low of 76,624, logging an intraday loss of 938 points. Likewise, the Bank Nifty today opened with a gap-down at 55,505 and touched an intraday low of 55,078, logging an intraday loss of 625 points during the Thursday session.
In this stock market crash, investors lost over ₹1.50 lakh crore in a single day as the overall market capitalisation of BSE-listed firms fell to ₹444 lakh crore from ₹445.51 lakh crore in the previous session.
Why is the stock market falling today?
According to market experts, the Indian stock market is falling due to the weak global cues. They said that global market sentiments have turned cautious due to the fresh attacks by Israel on Lebanon on Wednesday. This has dented hopes for a ceasefire in the US-Iran war and the reopening of the Strait of Hormuz. Apart from this, they said that a two-week ceasefire won’t be enough to pare the economic losses that the global economy has incurred during the US-Iran war. They said inflation fears persist, as oil and gas supply will remain a major concern due to the devastation of oil infrastructure in the Middle East.
Experts listed the following top five reasons dragging the Indian stock market today: weak global cues, fear of inflation, expected slowdown in industrial demand, supply-chain concerns around the Strait of Hormuz, and relentless selling by FIIs.
1] Weak global cues: After a strong pullback on Wednesday, the global indices remained under selling pressure on Thursday since early morning dealings. In Asian markets today, the Japanese Nikkei is down by nearly 0.65%, the Chinese Shanghai index is down by nearly 1%, Hong Kong’s Hang Seng is down by around 0.50%, while the South Korean KOSPI is down by around 1.50%. The DJ Shanghai index has corrected more than one per cent.
Anuj Gupta, a SEBI-registered market expert, believes the Indian equities are falling due to the weak global market sentiments as Israel’s fresh attacks on Lebanon on Wednesday have jeopardised the ceasefire hopes in the Middle East.
2] Inflation fears: Experts believe that, despite the two-week ceasefire, inflation would continue to haunt the global economy, and the market would wait for more clarity. This is possible only when there is a breakthrough in the US-Iran talks starting from 10 April 2026.
“The ceasefire announced for two weeks is a sigh of relief for the short term. Investors want more clarity about the peace establishment process in the West Asian region. Hence, investors are booking profit at the 23,800 to 24,000 range as a permanent solution to the global oil supply chain is still far flung and inflation fear is still around,” said Amit Goel, Chief Global Strategist at PACE 360.
3] Slowdown in industrial demand: According to Anuj Gupta, the supply chain problem in the oil supply can be pared by importing oil from other countries like Russia, Venezuela, and the US. However, we still depend on Middle Eastern countries forgas supply, which is essential for industrial production.
“As Qatar is the major supplier of gas in India, and its oil infrastructure is completely devastated by Iran during the US-Iran war, the gas crisis is expected to exist for the short to medium term, and this is expected to cut down industrial output and demand, leading to a slowdown in the national economy for some time,” said Sandeep Pandey, Co-founder of Basav Capital.
4] Supply-chain concerns around the Strait of Hormuz: The PACE 360 expert said that even after the two-week ceasefire, the 10-point talks has provision about complete control of Iran on the Strait of Hormuz, which was not even before the US-Iran war. It was a free float area, and hence a breakthrough in the US-Iran peace talks would not be a permanent solution as the water transit route continues to remain a bone of contention between the pro and anti-Iran groups.
“The 10-point formula, coined by Iran, which Donald Trump found feasible, includes complete control of Iran on the Strait of Hormuz post-ceasefire. This is expected to become a source of revenue for Iran. But, this is also expected to create an anti-Iran and a pro-Iran group in geopolitics, and Iran’s control on the Strait of Hormuz may become a new bone of contention in the geopotential setup,” said Amit Goel of PACE 360.
5] Relentless selling by FIIs: Institutional flows continue to reflect divergence. FIIs remain net sellers in the cash market, while DIIs are actively absorbing the supply, providing stability. In derivatives, FII positioning appears cautiously bullish in terms of holdings, but the change in open interest suggests hedging activity, indicating that institutional conviction remains guarded.
Nifty 50 needs a strong trigger to break above 24,000
Highlighting the reason for Nifty 50 failing to break above 24,000, Amit Goel of PACE 360 said, “Investors have taken call writers in bulk at 23,800 and 24,000 because there is no concrete trigger that can fuel bulls’ sentiment. Those triggers would come from the US-Iran war and from the crude oil supply chain. As both triggers are hanging in limbo, chances of the 50-stock index decisively breaking above 24,000 are slight.”
On how the Bank Nifty index holds key, the PACE 360 expert said the Bank Nifty index accounts for 35% of the Nifty 50 index. Any trigger that can improve global economic sentiment would first fuel banking stocks. Once the bank index breaks above 56,000 on a closing basis, one can expect the Nifty 50 index to break above 24,000 and come close to 25,000.”
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