Equity benchmark indices Sensex and Nifty plunged over 2% on Friday, snapping a two-day rally, as global weakness and rising geopolitical tensions dented investor sentiment.The 30-share BSE Sensex dropped 1,690.23 points, or 2.25%, to close at 73,583.22. During the session, it fell as much as 1,739.04 points, or 2.31%, to 73,534.41. The NSE Nifty declined 486.85 points, or 2.09%, to settle at 22,819.60.Market breadth remained weak, with 3,544 stocks declining, 822 advancing and 135 remaining unchanged on the BSE. In the holiday-shortened week, the Sensex lost 949.74 points, or 1.27%, while the Nifty slipped 294.9 points, also down 1.27%.Analysts attributed the sell-off to a mix of global and domestic headwinds, including elevated crude oil prices, a sharp fall in the rupee and continued foreign fund outflows.
Nifty50 top gainers
- ONGC (4.35%)
- Wipro (1.35%)
- TCS (0.53%)
- Bharti Airtel (0.50%)
- Coal India (0.31%)
- Power Grid (0.17%)
Nifty50 top losers
- Shriram Finance (-5.47%)
- Tata Motors (-4.64%)
- RIL (-4.60%)
- InterGlobe Aviation (-4.55%)
- Bajaj Finance (-4.42%)
- SBI (-3.88%)
- Eternal (-3.73%)
- Adani Enterprises (-3.38%)
- HDFC Bank (-3.34%)
- Bajaj Finserv (-2.95%)
BSE Sensex top gainers
- TCS (0.53%)
- Bharti Airtel (0.50%)
- Power Grid (0.17%)
BSE Sensex top losers
- RIL (-4.60%)
- InterGlobe Aviation (-4.55%)
- Bajaj Finance (-4.42%)
- SBI (-3.88%)
- Eternal (-3.73%)
- HDFC Bank (-3.34%)
- Bajaj Finserv (-2.95%)
- HUL (-2.83%)
- M&M (-2.78%)
- Asian Paints (-2.77%)
“Investor sentiment remained fragile due to a lack of clarity surrounding geopolitical tensions between the US and Iran, which once again pushed crude oil prices above the USD 100 mark. In addition, persistent FII outflows and sharp weakness in the rupee further weighed on risk appetite,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said, PTI quoted.Broader markets also came under pressure, with the BSE MidCap Select index falling 2.12% and the SmallCap Select index declining 1.77%.All sectoral indices closed lower. PSU Bank index dropped 3.88%, realty fell 3.10%, services 2.86%, auto 2.79%, Bankex 2.70%, financial services 2.69%, consumer discretionary 2.52% and consumer durables 2.50%.Brent crude, the global oil benchmark, rose 1.72% to USD 109.9 per barrel, adding to inflation concerns and dampening market sentiment.The rupee weakened sharply, tumbling 86 paise to settle at a fresh all-time low of 94.82 (provisional) against the US dollar.Global cues remained negative. In Asia, South Korea’s Kospi and Japan’s Nikkei 225 ended lower, while Shanghai’s SSE Composite and Hong Kong’s Hang Seng closed in positive territory. European markets were trading in the red, and US markets had ended sharply lower on Thursday.“Profit booking set in after the recent two-session rally as the rupee fell to an all-time low amid sustained FII selling, while escalating tensions in the Middle East heightened caution among investors ahead of the weekend,” Vinod Nair, Head of Research, Geojit Investments Limited, said, PTI quoted.Markets were closed on Thursday on account of Ram Navami.Foreign Institutional Investors (FIIs) sold equities worth Rs 1,805.37 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,429.78 crore, according to exchange data.“Indian markets witnessed a sharp and uneasy session, with heavyweight energy stocks leading the decline amid a complex mix of policy changes, rising crude prices, and persistent geopolitical uncertainty.“Adding to the pressure, the Indian rupee weakened further to record lows against the US dollar, underscoring the macro stress building beneath the surface,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.In the previous session on Wednesday, the Sensex had surged 1,205 points, or 1.63%, to close at 75,273.45, while the Nifty gained 394.05 points, or 1.72%, to end at 23,306.45.