Indian equity markets ended the day sharply lower on Friday where the BSE Sensex closed down 1,097 points, while the Nifty50 slipped below 24,500, marking a day of broad-based selling across key sectors.
Markets opened on a cautious note after losses on Wall Street, with the Dow Jones Industrial Average declining overnight. Early indicators from the GIFT Nifty futures had already signaled a lower start for the domestic market. Analysts said that investor sentiment was further hit by rising crude prices and ongoing geopolitical risks in the Middle East.
Crude oil surged past $80–85 per barrel, driving concerns over higher energy costs and inflationary pressures. Foreign institutional investors also remained net sellers, adding to the downward momentum.
Among sectors, banking and financial stocks bore the brunt of the decline. Major lenders like ICICI Bank and HDFC Bank fell around 2–3%, reflecting cautious sentiment among domestic and overseas investors. Industrial stocks and airlines were also among the top losers, with Interglobe (IndiGo) dropping 2.5% after an analyst target cut.
On the positive side, some defense and public sector companies outperformed. GRSE, Cochin Shipyard, and Mazagon Dock saw gains of up to 18% over two days, supported by government defense orders. Reliance Industries rose over 2% after the U.S. allowed temporary imports of Russian crude, easing supply concerns.
In commodities, silver gained as investors sought safe-haven assets amid the volatility. The Indian rupee weakened slightly against the US dollar, reflecting global market pressures.
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