The markets opened sharply lower on Friday, with benchmark indices extending a week-long slide amid global uncertainties. The BSE Sensex fell about 900 points to roughly 75,120, while the Nifty50 dropped to around 23,331, reflecting broad-based selling across most sectors.
Investors were shaken by rising geopolitical tensions involving Iran, Israel and the US, which fueled concerns over oil supply disruptions. Brent crude prices remained above $100 per barrel, pushing fears of higher input costs and inflation for Indian companies.
Foreign institutional investors (FIIs) continued their net selling streak, amplifying downward pressure on stocks. The Indian rupee also weakened, hitting new lows against the US dollar, adding to investor caution.
Among sector leaders, Larsen & Toubro and HDFC Bank were significant drags, while Mahindra & Mahindra and ICICI Bank also faced steep losses. Conversely, Reliance Industries, Tech Mahindra, and NTPC were among the few stocks showing gains, as investors favored defensive names amid market turbulence.
The sell-off was widespread, with metals, realty, consumer durables, and PSU banking stocks posting notable declines. Defensive consumer sector stocks, by contrast, showed relative stability.
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