Indian stock markets faced a sharp downturn as Sensex and Nifty tumbled, driven by foreign fund outflows, geopolitical tensions, and uncertainty surrounding US-Iran nuclear talks.
Photograph: Francis Mascarenhas/Reuters
Sensex and Nifty50 Performance: Key Market Highlights Today
- Sensex and Nifty plunged over 1% due to foreign fund outflows and rising geopolitical risks.
- Uncertainty surrounding US-Iran nuclear talks contributed to market volatility and investor caution.
- Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,465.99 crore.
- Global oil benchmark Brent Crude jumped 1.26% to $71.64 per barrel.
- Auto, FMCG, and pharma stocks experienced profit-booking after recent gains, further contributing to the market decline.
Benchmark indices Sensex and Nifty tumbled over 1 per cent on Friday due to fresh foreign fund outflows and subdued global trends amid rising geopolitical risks.
The lack of progress in USâ Iran nuclear talks has intensified concerns of further escalation of Middle East tensions, experts said.
The 30-share BSE Sensex tanked 961.42 points or 1.17 per cent to settle at 81,287.19. During the day, it dropped 1,089.46 points or 1.32 per cent to 81,159.15.
The 50-share NSE Nifty tumbled 317.90 points or 1.25 per cent to end at 25,178.65.
Sector Winners and Losers on Dalal Street
From the Sensex pack, Sun Pharma, Bharti Airtel, Bajaj Finserv, InterGlobe Aviation, Mahindra & Mahindra and Maruti were among the major laggards.
HCL Tech, Trent, Infosys and Eternal were the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,465.99 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 5,031.57 crore.
“Indian markets continued to consolidate amid weak global cues and rising geopolitical risks, with investor sentiment turning increasingly cautious. The lack of progress in US-Iran nuclear talks has intensified concerns of further escalation of Middle East tensions, while persistent AI-related uncertainty is also supporting safe-haven flows.
“Domestically, a risk-off tone prevails as the earnings season winds down and global macro factors take precedence,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Global Market Influences
In Asian markets, South Korea’s Kospi fell by 1 per cent. Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended in positive territory.
“Weak global cues and rising geopolitical uncertainty following inconclusive USâ Iran talks weighed on investor confidence, triggering broad-based profit-booking across auto, FMCG and pharma stocks after recent advances. The absence of fresh domestic triggers further accelerated the downside momentum, especially during the final hour of trade,” Hariprasad K, research analyst and founder, Livelong Wealth, said.
Brent Crude, the global oil benchmark, jumped 1.26 per cent to $71.64 per barrel.
