Sensex Plunges 1,470 Points, Markets Extend 3-Day Fall As Crude Nears $100 And Global Tensions Rise

Mumbai: Indian stock markets fell sharply for the third consecutive day on Friday as investors reacted to rising crude oil prices and growing geopolitical tensions in West Asia. Concerns about inflation and global economic stability led to heavy selling across sectors.

The BSE Sensex dropped 1,470.50 points (1.93 percent) to close at 74,563.92, after falling as much as 1,579.82 points during the day. Meanwhile, the NSE Nifty declined 488.05 points (2.06 percent) to settle at 23,151.10.

Market sentiment remained weak as investors worried about higher oil prices, a weakening rupee and continuous foreign investor outflows.

Majority Of Stocks End In Red

The broader market also witnessed strong selling pressure. On the BSE, around 3,348 stocks declined, while only 941 stocks advanced and 132 remained unchanged.

The total market capitalisation of BSE-listed companies fell sharply by Rs 10.24 lakh crore, bringing the total valuation down to about Rs 429.82 lakh crore (around USD 4.65 trillion).

On a weekly basis, markets also saw heavy losses. The Sensex dropped 4,354.98 points (5.51 percent) this week, while the Nifty declined 1,299.35 points (5.31 percent).

Since February 27, the Sensex has fallen 6,723 points (over 8 percent), wiping out nearly Rs 33.68 lakh crore in investor wealth.

Oil Prices And Global Worries Impact Markets

Experts said the main reason behind the market fall is the surge in crude oil prices. Brent crude climbed to about USD 100.7 per barrel, raising concerns about inflation and rising costs for oil-importing countries like India.

Higher oil prices can increase import bills, widen the current account deficit and put pressure on company profits. As a result, many investors reduced their exposure to equities and moved towards safer investments.

Weak Rupee And FII Selling Add Pressure

The Indian rupee also weakened further and closed at a record low of 92.45 against the US dollar, adding to market worries.

Foreign Institutional Investors (FIIs) continued selling in the market. According to exchange data, FIIs sold shares worth ₹7,049.87 crore, while Domestic Institutional Investors (DIIs) bought stocks worth ₹7,449.77 crore.

Sectoral And Global Market Impact

Among Sensex stocks, Larsen & Toubro fell the most by 7.52 percent, followed by Tata Steel, SBI, Bharat Electronics, Maruti and UltraTech Cement. However, Hindustan Unilever and Bharti Airtel ended the day with gains.

Sector-wise, metal, industrials and auto stocks were among the biggest losers due to rising input costs and supply concerns.

Global markets also remained weak. Major indices in Asia, Europe and the United States closed lower as investors reacted to the growing geopolitical crisis and rising oil prices.