Sensex drops 100 pts, Nifty below 23,300; ACME Solar shares jump 9%

The Nifty50 and the Sensex declined, tracking negative global cues due to signs of disruption in the peace negotiation between the US and Iran.

As of 11:51 AM, the Nifty50 fell 77.90 points or 0.33 per cent at 23,302.50, and the Sensex was down 176.15 points or 0.24 per cent at 74,099.92.

Bajaj Finance, Eternal, Apollo Hospital Enterprises, and Bharat Electronics were the top losers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap indices were trading 0.40 per cent and 0.30 per cent down, respectively.

Sector-wise, the Nifty IT continued to lead gains with 4% jump. The Nifty Metal and Nifty Consumer Durable also outperformed. The Nifty Pharma and the Nifty Healthcare underperformed.

Iran said that they will stop the ongoing negotiation with the US and completely block the Strait of Hormuz because of the ongoing ceasefire violation between Israel and Lebanon. Tehran also said that no negotiation will take place until Israel withdraws from Lebanon.

Meanwhile, US President Donald Trump said in an interview that he did not care whether the negotiations with Tehran were over, and that it had started to get boring, according to news reports.