Indian stock markets ended Thursday in negative territory, as renewed tensions between India and Pakistan unsettled investor confidence.
The trading session started on a positive note but witnessed a sharp downturn in the final hour, pulling the key indices lower by the close.
The Sensex declined by 411 points, or 0.51 per cent, to finish at 80,334.
The Nifty, which opened flat at 24,431 and touched an intra-day high of 24,447, saw a steep fall in the last hour, dropping to a low of 24,313 before closing at 24,273 – a fall of 0.51 per cent – slipping below the 24,300 mark.
The late sell-off followed confirmation from the Indian government that its armed forces had struck air defence targets in Pakistan, escalating tensions that began after India launched ‘Operation Sindoor’ targeting nine terror camps in Pakistan and Pakistan-occupied Kashmir (PoK) on Wednesday morning.
As the conflict intensified, investor caution deepened, prompting a retreat from equities.
Global Factors Add To Investor Woes
Adding to the downtrend were recent comments from the US Federal Reserve highlighting rising risks of inflation and unemployment, which dampened global investor morale.
Among Sensex constituents, Kotak Mahindra Bank led the gainers with a rise of 0.81 per cent.
It was followed by Axis Bank (up 0.7 per cent), Titan (0.69 per cent), and gains in HCL Tech and Tata Motors.
Meanwhile, mid- and small-cap stocks faced greater pressure.
The Nifty Midcap 100 index dropped by 2.16 per cent, while the Nifty Smallcap 100 index shed 1.6 per cent, reflecting a broader market weakness.
The sell-off was even more pronounced in Pakistan, where the benchmark KSE-100 index tumbled by 6 per cent, triggering a halt in trading by the stock exchange to prevent further panic.
With regional tensions flaring and global uncertainties persisting, analysts expect heightened market volatility to continue in the short term.
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