Indian stock markets witnessed a steep fall on Friday morning, marking what many are calling a "Black Friday" for investors. Both benchmark indices opened deep in the red, reacting sharply to rising geopolitical tensions in the Middle East.
The declines are possibly due to the profit-booking following the latest rally. Sensex is now some 4,000 points below its all-time high of 85,978 points.
Indian stock indices - Sensex and Nifty - edged lower for the second straight day as the ongoing tensions between Indian and Pakistan have escalated to another level.
Indian stock markets are expected to open lower on Wednesday after the Indian defence forces launched anti-terror strikes targeting terror camps in Pakistan and Pakistan-occupied Kashmir (PoK).
The Indian stock markets are showing resilience as compared to Asian peers. However, it opens in negative on Friday, the second day following the announcement of new tariffs by U.S. President Donald Trump.
Among Nifty 50 companies, only 13 stocks advanced, while 37 declined. The top gainers included Hindalco, Tata Steel, Eicher Motors, Larsen & Toubro (LT), and SBI Life, whereas Mahindra & Mahindra (M&M), Adani Ports, BPCL, Tata Motors, and Adani Enterprises emerged as the biggest
The equity benchmarks shed over one per cent during the trading session on Monday, impacted measurably by the global cues, weakness in the Indian rupee, and detection of human metapneumovirus (HMPV) in India.
The Sensex plunged by 662.81 points, ending the day at 79,402.29, while the Nifty fell 218.60 points to close at 24,180.80. Among Nifty-listed companies, only 12 stocks advanced, whereas 38 stocks declined, reflecting a broad-based sell-off across sectors.
The Sensex tumbled by 703.95 points, or 0.85 per cent, to settle at 81,793.16, while the Nifty fell by 200.25 points or 0.79 per cent, closing at 25,049.85.