Overview
- Markets opened sharply lower on Wednesday with Sensex plunging about 800–890 points and Nifty falling several hundred points, and continued to show large intraday swings into Thursday as partial recoveries followed deep sell-offs.
- Pre-market indicators on GIFT/SGX Nifty printed 200–300+ point negative readings that preceded heavy Indian opens and global equity falls in the US, Japan and other Asian markets.
- Traders and analysts pointed to renewed US–Iran tensions and volatile crude prices near $97 per barrel as immediate external drivers, while reported foreign institutional investor selling of roughly ₹4,500 crore the prior day added sustained outflow pressure.
- SEBI issued an interim order against Rajesh Exports that barred promoter Rajesh Mehta from trading, ordered a new forensic audit and flagged about ₹15.15 lakh crore of allegedly misstated subsidiary-related revenue.
- Indiabulls' board approved a proposal to raise up to ₹1,000.07 crore by issuing 51.55 crore convertible warrants to specified investors, with an EGM set for July 2 for shareholder approval, a move that analysts say could add to domestic investor caution.