Stock markets opened sharply lower on Friday, mirroring a heavy sell-off in global markets and growing concerns over geopolitical tensions in West Asia. The BSE Sensex dropped over 450 points, while the Nifty50 fell below 24,650 in early trade, reflecting widespread risk-off sentiment among investors.
Banking and engineering stocks were among the hardest hit. ICICI Bank fell from ₹970 to ₹945, Larsen & Toubro (L&T) dropped from ₹3,520 to ₹3,450, and IndiGo declined from ₹2,320 to ₹2,260. In contrast, IT and defensive stocks managed modest gains, providing some support to the broader market.
Global cues were negative, with the Dow Jones Industrial Average witnessing a steep fall overnight. Analysts said that escalating tensions in West Asia, combined with rising crude prices. Brent crude crossed $85 per barrel, added to market nervousness. Precious metals, including gold, strengthened as investors sought safe-haven assets, while the rupee weakened slightly against the US dollar.
Sector-wise, energy and financials were major draggers, whereas select IT and FMCG stocks helped cushion losses. Experts noted that the market’s short-term trajectory will remain sensitive to oil price movements, developments in West Asia, and global equity trends.
Despite the sharp decline, analysts suggested that investors monitor intraday swings closely, as bargain hunting in fundamentally strong stocks could provide opportunities.