Indian benchmark indices Sensex and Nifty plummeted in early trade, reflecting investor anxiety over surging global oil prices, sustained foreign fund outflows, and ongoing geopolitical tensions in West Asia.
How Sensex, Nifty50 fared: Key Market Highlights
- Benchmark indices Sensex and Nifty tumbled significantly in early trade, extending previous day's losses.
- Surging Brent crude oil prices, trading at USD 106 per barrel, are a major factor unnerving investors.
- Foreign Institutional Investors (FIIs) continued to offload equities, selling Rs 3,254.71 crore on Thursday.
- Weakness in IT stocks and a negative trend in global markets also contributed to the bearish sentiment.
- Geopolitical uncertainty, particularly developments in West Asia and tensions around Iran, are keeping risk appetite in check.
Benchmark indices Sensex and Nifty tumbled in early trade on Friday as surging oil prices and unabated foreign fund outflows unnerved investors.
Weakness in IT stocks and a negative trend in global markets also weighed on investor sentiment.
Market Performance Overview
The 30-share BSE Sensex dropped 330 points to 77,334 in early trade. The 50-share NSE Nifty declined 93.3 points to 24,079.75.
Later, the BSE benchmark quoted 772.35 points lower at 76,876.79, and the Nifty tanked 205.45 points to 23,967.60.
Laggards and Winners on Dalal Street
From the 30-Sensex firms, HCL Tech, Infosys, Tata Consultancy Services, Sun Pharma, Tech Mahindra and Bharti Airtel were among the major laggards.
UltraTech Cement, Mahindra & Mahindra, State Bank of India and Hindustan Unilever were among the winners.
Factors Driving the Downturn
Brent crude, the global oil benchmark, traded 0.89 per cent higher at USD 106 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,254.71 crore on Thursday, according to exchange data.
"The broader sentiment remains fragile, shaped largely by persistent geopolitical uncertainty. Developments in West Asia continue to influence market psychology.
"Although the ceasefire between Israel and Lebanon has been extended by three weeks following diplomatic engagement led by Donald Trump, the extension is being viewed as a temporary relief rather than a structural resolution," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
The underlying tensions, particularly around Iran, continue to keep risk appetite in check, he added.
Global Market Context
In Asian markets, South Korea's benchmark Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading lower, while Japan's Nikkei 225 index quoted higher.
"Crude oil prices remain elevated above the $100 per barrel mark, driven by supply disruptions and rising tensions around the Strait of Hormuz, adding to macroeconomic concerns," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
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