Sensex, Nifty End Lower In Sharpest Slide In Over Two Weeks

Indian equity benchmarks ended decisively lower on Thursday, registering their steepest single-day decline in more than a fortnight.

Escalating geopolitical frictions and rising crude oil prices unsettled investor confidence and triggered broad-based liquidation.

The BSE Sensex closed at 82,498.14, plunging 1,236.11 points or 1.48 per cent.

The Nifty 50 settled at 25,454.35, down 365 points or 1.41 per cent. Both indices recorded their sharpest fall since February 1 this year.

Technical analysts observed that the Nifty slipped beneath the immediate support corridor of 25,645-25,660, aligned with its 20-day exponential moving average.

Once the index breached this threshold, selling intensified.

]The slide dragged the benchmark towards the 25,350-25,400 support zone and eroded prior short-term demand levels.

The downturn reflected mounting anxiety over elevated crude prices and renewed tensions between the United States and Iran.

The diplomatic impasse heightened global uncertainty and curbed risk appetite. Investors also locked in gains in heavyweight banking and FMCG counters, amplifying the decline.

All 30 constituents of the Sensex finished in negative territory.

Shares of IndiGo, M&M, UltraTech Cement, Trent and BEL emerged among the steepest laggards, sliding up to 3.2 per cent intraday.

Broader markets mirrored the weakness. The Nifty Midcap 100 declined 1.59 per cent, while the Nifty Smallcap 100 retreated 1.27 per cent.

Sectoral gauges posted widespread losses. Realty, media and auto indices each dropped around 2 per cent. FMCG and both private and public sector banking indices fell over 1 per cent.

Foreign portfolio investors continued to pare exposure. During the first half of February, FPIs offloaded information technology stocks worth Rs 10,956 crore, despite aggregate inflows of Rs 29,709 crore into Dalal Street. IT counters faced the heaviest selling pressure.

Market strategists expect near-term caution to persist amid volatile crude prices and geopolitical unpredictability.

Meanwhile, gold prices advanced as stalled US-Iran negotiations reignited military concerns and prompted renewed safe-haven demand.

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