Indian equity markets ended Friday’s session in the red as escalating tensions between the United States and Iran weakened investor confidence and increased caution across Dalal Street.
The BSE Sensex dropped 516.33 points to settle at 77,328.19, while the NSE Nifty declined 150.50 points to close at 24,176.15.
Banking shares led the market decline, although buying in information technology stocks helped limit deeper losses.
Analysts said the Nifty continues to face resistance near the 24,250–24,300 zone.
According to market experts, a sustained move above this level could improve momentum and open the path towards the 24,400–24,500 range. On the downside, the 24,100–24,000 band is being viewed as an important support region for the market.
Among the stocks that managed to post gains despite the weak sentiment were Titan, Apollo Hospitals Enterprise and Asian Paints.
On the other hand, SBI, Coal India, HDFC Bank, Axis Bank and Bajaj Finance were among the major losers during the session.
Sector-wise, banking indices witnessed the sharpest fall, with PSU banks, private banks and broader banking counters facing heavy selling pressure as investors reduced exposure to financial stocks amid global uncertainty.
In contrast, IT shares outperformed the broader market due to defensive buying and expectations of relatively stable demand in the technology sector.
Global oil prices also remained elevated after hopes of a quick resolution to the West Asia conflict weakened.
Brent crude traded above $100 per barrel, raising concerns about inflationary pressure and the impact on oil-importing economies such as India.
Market experts said fresh military tensions near the Strait of Hormuz triggered risk aversion globally after Iran accused the US of violating the ceasefire agreement between the two countries.
Also Read: Markets Open Lower As Fresh US-Iran Tensions Weigh On Investor Sentiment
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