Indian equity markets tumbled sharply on Friday, with the BSE Sensex falling 1,053 points to 59,182 and the Nifty50 slipping 325 points to 22,965. The decline came amid rising crude oil prices, a weakening rupee, and global geopolitical concerns, leaving investors cautious.
Key sectors such as oil & gas, infrastructure, and energy bore the brunt of the sell-off. Among notable losers, Chennai Petroleum, Sadbhav Engineering, Brigade Enterprises, and DCX Systems saw significant declines. On the brighter side, a few stocks bucked the trend, with LIC, Aequs, and Fino Payments Bank posting gains, supported by positive investor sentiment in select pockets.
Global cues played a major role in the market’s negative trend. Crude oil prices hit multi-week highs, stoking concerns about input costs and inflationary pressures. The Indian rupee weakened past ₹94 against the US dollar, amplifying concerns for import-dependent sectors. Meanwhile, foreign institutional investors continued to book profits, adding to the bearish momentum.
Trading opened on a weak note, with GIFT Nifty futures signaling a negative start. Analysts noted that despite recent rallies in banking, automobile, and consumer stocks, current market conditions favored caution.
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