Sensex, Nifty Open Lower As Global Cues Weigh; Crude Prices Stay Elevated

Domestic equity benchmarks BSE Sensex and Nifty 50 opened sharply lower on Friday, reflecting weak global sentiment and elevated crude oil prices amid uncertainty surrounding the Iran conflict.

The Nifty began trading at 23,173.55, down 132.90 points, while the Sensex slipped nearly 400 points to 74,883.79 in early deals.

Broader markets also faced pressure, with midcap and smallcap indices trading in negative territory.

Most sectoral indices remained in the red, led by realty, metals, PSU banks, and auto stocks, which declined up to 1 per cent.

Financials and consumer durables also witnessed selling pressure. However, IT and oil and gas stocks showed resilience, registering modest gains.

Among heavyweight stocks, HDFC Bank and Bajaj Finance emerged among the top laggards, weighing on the indices.

Investor sentiment stayed cautious amid persistent geopolitical tensions.

US President Donald Trump indicated an extension of the pause on attacks targeting Iran’s energy infrastructure, although uncertainty remains after Iran described a US proposal as one-sided.

Global markets mirrored the risk-off mood, with major US indices ending lower.

The S&P 500 dropped 1.74 per cent, while the Nasdaq declined 2.38 per cent. Asian markets followed suit, with Japan’s Nikkei and South Korea’s Kospi registering notable losses.

Crude oil prices remained volatile, though slightly eased, with Brent crude falling to $105.53 per barrel.

Analysts expect continued volatility, with key support for Nifty around 23,050–23,000 and resistance near 23,450–23,500.

Foreign institutional investors remained net sellers, while domestic investors offered some support. Trading resumed on Friday after a market holiday on Ram Navami.

Also Read: Reliance Industries Denies Report On Buying Iranian Crude Oil