Indian stock markets witnessed a sharp decline as the Sensex and Nifty tumbled, influenced by escalating geopolitical tensions, a weakening rupee, and continuous foreign fund outflows, creating uncertainty for investors.
Sensex and Nifty50 Performance: Key Market Highlights Today
- Sensex and Nifty plunged over 2% due to escalating US-Iran tensions and weak global cues.
- The Indian rupee hit a record low against the US dollar, adding to investor concerns.
- Foreign Institutional Investors (FIIs) continued to offload equities, contributing to the market decline.
- Rising crude oil prices above USD 100 per barrel further dampened market sentiment.
- Reliance Industries and Bajaj Finance were among the top losers, while TCS and Bharti Airtel gained.
Equity benchmark indices Sensex and Nifty tumbled over 2 per cent on Friday after a two-day rally, in tandem with a weak trend in global peers, as the US-Iran conflict continues to be the crucial overhang for markets, raising doubts about a de-escalation of the war.
Crude oil prices staying above the $100 per barrel mark, the rupee's free fall and unabated foreign fund outflows also added to the gloom.
The 30-share BSE Sensex tanked 1,690.23 points, or 2.25 per cent, to settle at 73,583.22. During the day, it plunged 1,739.04 points, or 2.31 per cent, to 73,534.41.
The 50-share NSE Nifty dropped 486.85 points, or 2.09 per cent, to end at 22,819.60.
Market Performance and Key Players
From the 30-Sensex firms, Reliance Industries dropped the most by 4.55 per cent, followed by InterGlobe Aviation, Bajaj Finance, State Bank of India, Eternal and HDFC Bank.
In contrast, Tata Consultancy Services, Bharti Airtel and Power Grid were the gainers.
Brent crude, the global oil benchmark, jumped 1.72 per cent to $109.9 per barrel.
Key Reasons Behind Today’s Stock Market Crash
"Profit booking set in after the recent two-session rally as the rupee fell to an all-time low amid sustained FII selling, while escalating tensions in the Middle East heightened caution among investors ahead of the weekend," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,805.37 crore on Wednesday, according to exchange data.
Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 5,429.78 crore.
"Indian markets witnessed a sharp and uneasy session, with heavyweight energy stocks leading the decline amid a complex mix of policy changes, rising crude prices, and persistent geopolitical uncertainty.
"Adding to the pressure, the Indian rupee weakened further to record lows against the US dollar, underscoring the macro stress building beneath the surface," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
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