Markets Under Pressure: Sensex Slides Over 400 Points, Nifty Near 24,200 Amid Surge in Crude Oil Prices
Indian benchmark equity indices traded lower on Friday as rising crude oil prices, persistent foreign institutional outflows, and weak global cues dampened investor confidence. Escalating geopolitical tensions in West Asia, following renewed U.S.-Iran strikes, further added pressure on market sentiment.
The Sensex fell 427.87 points, or 0.55%, to 77,416.66, while the broader Nifty slipped 119.60 points, or 0.49%, to 24,207.05.
Market weakness intensified after crude oil prices moved higher again amid growing concerns over supply disruptions linked to the ongoing West Asia conflict.
On the sectoral front, most major Nifty indices traded in negative territory, with the exception of FMCG, IT, and pharma stocks, which showed relative resilience. Meanwhile, the broader market remained comparatively stable, as the Nifty Midcap100 and Nifty Smallcap100 indices edged higher by 0.1% and 0.2%, respectively.
Among individual stocks,