Indian stock markets faced a sharp sell-off on Friday, with the BSE Sensex dropping nearly 1,700 points and the NSE Nifty 50 falling below 22,850. Investors grew cautious amid rising geopolitical tensions, soaring crude prices, and continued foreign fund outflows.
The day’s decline erased nearly ₹9 lakh crore of market wealth, highlighting the intensity of the session. While markets had started the week on a positive note, global uncertainties quickly reversed investor sentiment.
The sell-off was driven by escalating tensions in the Middle East, particularly involving the United States and Iran, which pushed crude oil prices above $100 per barrel. Rising oil prices raised concerns about inflation and higher fuel import costs for India, adding to market pressure. Meanwhile, the Indian rupee slipped to a record low against the US dollar, further weakening investor confidence.
Among sectors, banking, IT, and metals were the hardest hit. Key losers included HDFC Bank, ICICI Bank, Axis Bank, Infosys, TCS, Tata Steel, and JSW Steel, which faced heavy selling amid a risk-off mood among domestic and foreign investors.
Conversely, energy and oil-related stocks emerged as the main gainers, supported by rising crude prices. Reliance Industries, GAIL India, and ONGC managed to post modest gains, providing some relief amid the broader market decline.
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