Stock Market News Today: Sensex Slips 500 Points; Nifty Around 21,850. Infosys Dips 2 Per Cent
Stock Market News Today: On the 30-share Sensex platform, apart from ITC and ICICI Bank, remaining 28 constituents are trading in the red
The two key equity benchmarks, Sensex and Nifty, on Friday plunged sharply as tensions flared up in the Middle East between Iran and Israel. At 9.35 am, the 30-share BSE Sensex declined 463 points to 72,026. On the other hand, the NSE Nifty50 was trading at 21,860, down 135 points.
Stock update
On the 30-share Sensex platform, apart from ITC and ICICI Bank, remaining 28 constituents are trading in the red. Infosys slipped 2.18 per cent. The IT services firm on Thursday announced that clocked 30 per cent net profit in its Q4 earnings.
In the broader markets, the BSE Midcap and Smallcap indices dropped 1 per cent each.
Sectoral update
Sectorwise, all the indices are down, with auto, IT, media, healthcare, and realty declined 1-1.5 per cent.
In the previous session on Thursday, the 30-share BSE Sensex ended 455 points lower at 72,489, while the NSE Nifty50 settled at 21,996, down 152 points.
"Reports of the feared escalation of the Iran-Israel tensions have spooked the markets. Distinct weakness in Asian markets and sharp cuts in US futures reflect heightened nervousness in equity markets," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global market update
In Asian markets, indices in Seoul, Tokyo, Shanghai, and Hong Kong were down. Wall Street also experienced a mostly lower close on Thursday.
Global oil benchmark Brent crude rose 2.27 per cent to $89.09 per barrel.
Foreign Institutional Investors (FIIs) sold equities valued at Rs 4,260.33 crore on Thursday, as reported by the exchange.
Rupee Falls 6 Paise
On Friday, the rupee weakened by 6 paise to 83.58 against the US dollar in early trading, impacted by a downtrend in domestic equities and higher crude oil prices. Currency traders noted that the strong US dollar in international markets also dampened investor confidence.
In the interbank foreign exchange market, the rupee started at 83.58 against the dollar, marking a decline of 6 paise from its previous closing. The local currency then managed to recover some of its losses, reaching a high of 83.46 against the dollar in early trading on Friday.
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