Mumbai: Indian equity markets remained under pressure on Friday as investors turned cautious due to renewed geopolitical tensions in West Asia. Concerns over possible disruptions in crude oil supplies and rising global uncertainty pushed benchmark indices lower for the second consecutive trading session.
The BSE Sensex fell 516.33 points, or 0.66 per cent, to close at 77,328.19. During the day, the index dropped nearly 700 points and touched an intraday low of 77,146.43.
The NSE Nifty also ended weak, slipping 150.50 points, or 0.62 per cent, to settle at 24,176.15.
Banking Stocks Lead Market Fall
Banking and financial stocks saw heavy selling pressure. Shares of State Bank of India fell sharply by 6.62 per cent after the lender announced its March quarter earnings.
Other major losers included HDFC Bank, Bajaj Finance, Axis Bank, UltraTech Cement and Mahindra & Mahindra.
Analysts said investors preferred to book profits amid uncertainty in global markets and rising geopolitical risks.
Titan Shines After Strong Results
Despite the weak market mood, Titan Company emerged as one of the biggest gainers of the day. The stock jumped 4.76 per cent after the jewellery and watchmaker reported a 35.36 per cent rise in consolidated net profit to ₹1,179 crore for the March quarter of FY26.
Asian Paints, Adani Ports, Infosys and HCL Tech also ended in the green and helped limit market losses to some extent.
West Asia Tensions Impact Sentiment
Investor sentiment weakened after reports of fresh US-Iran military action near the Strait of Hormuz. The development raised fears over crude oil supplies from the region.
Brent crude oil prices traded around USD 100 per barrel, keeping investors cautious about inflation and higher import costs for India.
Vinod Nair, Head of Research at Geojit Investments Limited, said markets witnessed a “risk-off” session due to geopolitical concerns and profit booking. However, stable crude prices and steady US bond yields continued to support overall sentiment.
Global Markets Also Weak
Asian markets showed a mixed trend on Friday. South Korea’s Kospi ended marginally higher, while Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.
European markets were also trading in the red, while US markets had ended lower on Thursday.
Foreign Institutional Investors (FIIs) sold equities worth ₹340.89 crore on Thursday, according to exchange data.
