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Indian stock markets, including the Sensex and Nifty, experienced a downturn, with the Nifty falling for the fourth consecutive day, as elevated oil prices and persistent geopolitical tensions between the US and Iran dampened investor confidence.
Photograph: Francis Mascarenhas/Reuters
Key Points
- Indian benchmark indices, Sensex and Nifty, concluded Friday’s trading session lower, with the Nifty experiencing its fourth consecutive day of decline.
- Elevated Brent crude prices, reaching $87.15 per barrel, and the prolonged US-Iran geopolitical impasse were key factors weighing on investor sentiment.
- Major laggards from the Sensex pack included Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India, and HCL Tech.
- Foreign Institutional Investors (FIIs) offloaded equities worth Rs 510.69 crore on Thursday, indicating a cautious approach by overseas investors.
Market benchmark indices Sensex and Nifty ended lower on Friday as elevated oil prices and the prolonged US-Iran impasse weighed on investors’ sentiment.
Market Performance Overview
The 30-share BSE Sensex was down 70.71 points, or 0.09 per cent, to settle at 78,009.25.
During the day, it dropped 395.59 points, or 0.50 per cent, to 77,684.37.
The 50-share NSE Nifty dipped 29.85 points, or 0.12 per cent, to end at 24,366.
Top Gainers and Losers
From the Sensex pack, Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India and HCL Tech were among the major laggards.
Bharti Airtel, Adani Ports, ICICI Bank and Titan were among the winners.
Global Market Trends and FII Activity
Brent crude, the global oil benchmark, went up by 0.17 per cent to $87.15 per barrel.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 and Shanghai’s SSE Composite index ended higher, while Hong Kong’s Hang Seng index settled lower.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 510.69 crore on Thursday, according to exchange data.
