Sensex Falls 456 Points on Global Tensions, Nifty Slips Below 24,600 as Financial Stocks Weaken

Mumbai: Indian equity benchmarks closed lower on Friday as selling in financial and private banking shares, along with growing geopolitical tensions, weakened investor confidence.

The Sensex fell 455.59 points, or 0.58 percent, to close at 78,499.17. The Nifty declined 65.35 points, or 0.27 percent, to settle below the 24,600 mark at 24,570.65.

Financial Stocks Drag

Heavy selling in major financial shares pushed the frontline indices into negative territory. Investors remained cautious throughout the trading session and reduced their exposure to banking and finance companies.

The Nifty Financial Services and Nifty Private Bank indices were the worst-performing sectoral indices, adding significant pressure to the market.

Among Nifty companies, Bajaj Finance, Bajaj Finserv and Trent were the biggest laggards and contributed heavily to the benchmark’s fall.

Broader Market Resilient

Despite the weakness in the Sensex and Nifty, the broader market delivered a mixed but relatively stable performance.

The Nifty MidCap index gained 0.22 percent, showing continued buying interest in select mid-sized companies. The Nifty SmallCap index, however, slipped marginally by 0.05 percent.

Auto, IT Support

Automobile and information technology shares provided some support and helped limit the overall losses.

The Nifty Auto and Nifty IT indices emerged as the leading gainers among the major sectoral indices. Gains in these sectors partly reduced the impact of the selling pressure seen in financial stocks.

Key Technical Levels

Market experts said the 24,600–24,700 range remains an important resistance zone for the Nifty.

On the downside, 24,500 is the crucial immediate support level. A clear fall below this point could lead to more profit booking and pull the index towards the 24,400–24,300 range.

Global Risks Weigh

Experts said rising geopolitical concerns created a risk-off mood and overshadowed gains in selected sectors.

However, SBI’s strong performance, supported by healthy loan growth, better asset quality and stable margins, offered some confidence in the banking and public-sector banking space.