$INDIGO

Auto and aviation stocks remained under pressure in Friday's trade as a sharp surge in crude oil prices raised concerns over higher fuel and raw material costs, prompting investors to reduce exposure to sectors most vulnerable to sustained increases in energy prices. The Nifty Auto index fell 1.02 percent to 27,240.50, underperforming the broader market. Benchmark indices also traded lower, with the Sensex declining 577.87 points, or 0.76 percent, to 75,813.52, while the Nifty 50 slipped 166 points, or 0.70 percent, to 23,703.60. Broader market sentiment remained weak, with the India VIX rising 5.34 percent to 14.20, reflecting heightened market volatility. Market breadth was firmly negative, as 1,290 stocks advanced against 2,264 declines. The Nifty Midcap 100 and Nifty Smallcap 100 indices also lost 0.56 percent and 0.70 percent, respectively. Selling pressure was widespread across automobile stocks. Hero MotoCorp dropped nearly 2.8 percent, while Mahindra & Mahindra declined around 2.4 percent. In the aviation space, InterGlobe Aviation (IndiGo) fell almost 2 percent, as rising aviation turbine fuel (ATF) prices fueled concerns over airline profit margins. The weakness followed a sharp rally in global crude oil prices amid escalating tensions in the Middle East. Brent crude climbed back above the $100-a-barrel mark after attacks by Iran-backed Houthis on Saudi oil tankers in the Red Sea added to disruptions around the Strait of Hormuz, intensifying fears over potential supply disruptions from two of the world's most critical oil shipping routes.