Sensex slumps over 700 points at open, Nifty falls below 22,750; Rupee gains slightly

The Indian stock market witnessed a sharp decline, with the Sensex tumbling by over 700 points and the Nifty slipping below 22,750. Meanwhile, the Rupee recorded a slight strengthening, and shares of Godrej Consumer saw a surge.

Post Published By: Sona Saini

Updated : 7 April 2026, 11:23 AM IST

Sensex, Nifty Decline Sharply in Early Trade

Mumbai: Trading in the Indian stock market began on Tuesday with a sharp decline. The BSE Sensex tumbled by over 700 points, while the Nifty 50 also slipped below the 22,750 level.

Signs of weakness in the market were evident during the pre-opening session itself, where the Sensex was down by more than 350 points and the Nifty hovered near the 22,850 mark.

Selling Pressure Across Sectors

Selling pressure was observed across almost all sectors of the market. Shares of aviation sector companies-IndiGo and Eternal-recorded a decline of nearly 2%, exerting additional pressure on the indices.

Experts believe that investor sentiment remains cautious amidst global uncertainties and geopolitical tensions.

CCIL's Decision Brings Relief to Forex Market

The Clearing Corporation of India Limited (CCIL) has withdrawn the additional forex volatility margins that were imposed on April 2.

This decision is expected to boost liquidity and reduce volatility in the foreign exchange market.

Marginal Strengthening of the Rupee

Amidst the decline in the stock market, the Indian Rupee displayed marginal strength. The Rupee opened at 93.0025 per dollar, marking a gain of 0.06% compared to its previous close of 93.06.

This indicates that a sense of stability currently prevails in the currency market.

Godrej Consumer Shares Rally

While the broader market remained under pressure, shares of Godrej Consumer Products witnessed a surge of nearly 3%.

The company has projected double-digit sales growth and high single-digit volume growth for the fourth quarter. Demand remains robust across categories, with the exception of soaps.

Cost Pressures Remain a Challenge

However, the company has expressed concerns regarding potential cost escalations stemming from global tensions involving Iran. Despite this, EBITDA margins are expected to remain within a normal range, thanks to effective cost-control measures.

According to experts, market volatility is likely to persist in the near future, driven by global developments and corporate earnings. Investors will now be keeping a close watch on upcoming economic indicators.