Stock Market Ends Lower Amid Geopolitical Concerns; Nifty Settles Near 24,000, Sensex Falls Over 880 Points

The Midcap index ended the day down by 0.2 percent, while the Smallcap index declined by 0.5 percent, indicating that broader market sentiment remained subdued amid geopolitical uncertainty

Despite some strength seen in selective sectors, broader indices ended the session in the red

Source : PTI

Indian stock markets closed on a volatile note on Friday, as rising geopolitical tensions between India and Pakistan weighed heavily on investor sentiment. Despite some strength seen in selective sectors, broader indices ended the session in the red. 

At the closing time, the benchmark BSE Sensex experienced a significant drop, plunging 880 points or 1.10 per cent to close at 79,454. Similarly, the NSE Nifty also declined sharply, shedding 266 points, or 1.10 per cent, to settle at 24,008 by the end of the trading session.

Among the major drags on the Nifty were ICICI Bank, Power Grid Corporation, UltraTech Cement, Shriram Finance, and Grasim Industries, all of which saw notable declines. In contrast, Titan Company, Tata Motors, Larsen & Toubro, Bharat Electronics, and Hero MotoCorp emerged as top gainers, providing some support to the index.

The BSE Midcap and Smallcap indices also came under pressure. The Midcap index ended the day down by 0.2 per cent, while the Smallcap index declined by 0.5 per cent, indicating that broader market sentiment remained subdued amid geopolitical uncertainty.

Sectorial Update

Sector-wise, the market showed a mixed performance. The real estate sector was the worst hit, with the Nifty Realty index dropping 2.5 per cent. The private banking sector also came under pressure, declining by 1.3 per cent. On the other hand, sectors such as media, consumer durables, capital goods, and public sector banks posted moderate gains, rising between 0.8 and 1.6 per cent.

Rupee Movement

The Indian rupee strengthened by 34 paise on Friday, closing at 85.37 against the US dollar, compared to the previous session’s close of 85.71.

Expert Comment

Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, noted, "Indian equity markets opened with a gap down today, primarily influenced by rising geopolitical tensions along the India-Pakistan border, which dampened investor sentiment. The Nifty began the session at 24,233, briefly touched a low of 24,220, but quickly recovered to register an intraday high of 24,449. For the majority of the session, the index traded within a narrow range, reflecting a cautious undertone. On the sectoral front, PSU Banks and Consumer Durables displayed relative strength, while Realty, Financial Services, and Oil & Gas sectors witnessed notable weakness."