Indian equity markets opened sharply lower on Friday, reflecting cautious investor sentiment amid rising global risks.
The BSE Sensex fell 683.20 points, or 0.89 per cent, to 75,708.19 at the opening bell, while the NSE Nifty declined 203.25 points, or 0.85 per cent, to 23,666.35.
Investors booked profits across the board, pushing all sectoral indices into negative territory.
Realty and metal shares recorded the steepest declines, while banking, automobile, consumer durables, FMCG and IT stocks also traded with notable losses.
The Nifty Realty index slipped 0.95 per cent, and the Nifty Metal index lost 0.92 per cent in early trade.
Analysts said escalating geopolitical tensions and the sharp rise in crude oil prices continued to unsettle financial markets.
Brent crude remained above the $100-per-barrel level after attacks on Saudi oil tankers in the Red Sea disrupted market confidence.
Experts cautioned that persistently elevated crude prices could widen India’s balance-of-payments deficit.
At the same time, the rise in the US 10-year Treasury yield to 4.7 per cent has added further pressure on global equities.
Market technicians observed that the Nifty has slipped below important moving averages, signalling continued weakness. They identified the 23,645-23,500 range as the next support zone, while 24,000-24,100 is likely to remain a significant resistance level.
Negative cues from international markets further dampened domestic sentiment.
Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s KOSPI all registered steep losses during Asian trading.
In the United States, Wall Street closed lower overnight, with the S&P 500 dropping 1.21 per cent and the Nasdaq falling 2.15 per cent. US West Texas Intermediate crude gained 0.69 per cent to trade at $92.83 per barrel.
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