Sensex crashes 800 pts, Nifty below 24,500 as markets shrug off Trump’s Iran ceasefire extension

The BSE Sensex dropped 400 points at the opening bell, while the NSE Nifty 50 slipped below the 24,500 mark.

Losses deepened soon after, with the Sensex falling nearly 800 points and the Nifty declining over 200 points in early trade.

Among major laggards, Tech Mahindra fell 4 percent, while Infosys dropped 3 percent.

The market reaction came even as US President Donald Trump announced an extension of his April 22 deadline related to a potential ceasefire involving Iran.

In a post on Truth Social, Trump said he had decided to delay further military action following a direct appeal from Pakistan’s leadership, including Army Chief Asim Munir and Prime Minister Shehbaz Sharif.

“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir and Prime Minister Shehbaz Sharif of Pakistan, we have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal,” Trump wrote.

He added that the US military has been instructed to maintain the blockade while remaining prepared for any escalation.

“I have therefore directed our Military to continue the blockade and, in all other respects, remain ready and able, and will therefore extend the ceasefire until such time as their proposal is submitted, and discussions are concluded,” he said.

Meanwhile, US Vice President JD Vance did not travel to Islamabad for the second round of talks between Washington and Tehran.