On Thursday, the Indian stock market opened lower with the Sensex declining by over 500 points and the Nifty slipping below the 23,900 mark. This drop comes as profit booking occurs after a sharp four-day rally. Concerns over rising crude oil prices, which have surged above $95, and fading hopes for a ceasefire between Iran and the US have contributed to the negative sentiment. Additionally, the Indian rupee has weakened, and foreign institutional investors (FIIs) continue to sell off stocks. In early trading, Adani Ports and Infosys saw declines of up to 2%, while the Nifty IT sector emerged as the top loser on the National Stock Exchange (NSE), falling nearly 1%. Conversely, the Nifty Metal sector gained over 1%. Global markets are also reflecting negative trends, with Japan's Topix falling 4.6%, Australia's S&P/ASX 200 down 2.2%, and Hong Kong's Hang Seng declining 2.8%.