Friday’s trade in Mumbai began on an even keel despite faltering overseas markets, thanks largely to robust defense and banking counters. Sensex shed 17 points to 82,434 and Nifty 10 to 25,444 at 9:24 AM. This balance act highlights sectoral rotations in a volatile environment.
Nifty PSU Bank, India Defence, Energy, PSE, Private Bank, and Metal indices climbed, acting as anchors. IT, media, pharma, services, healthcare, and auto sectors buckled under pressure, illustrating clear divides.
Midcaps and smallcaps mirrored the caution, Nifty Midcap 100 -47 at 59,180, Smallcap 100 -57 at 16,963. Largecaps’ relative strength underscores defensive positioning.
Sensex gainers: L&T, BEL, NTPC, HUL, Titan, Axis Bank, Power Grid, Adani Ports. Prominent decliners: Infosys, Tech Mahindra, Interglobe, HCL Tech, Bharti Airtel, M&M, Asian Paints, UltraTech Cement.
Asia mixed—red in Tokyo, HK, Jakarta, Bangkok; green Seoul. U.S. down Thursday. U.S.-Iran escalation stokes fears, boosting oil: Brent $71.81 (+0.21%), WTI $66.56 (+0.24%). FII/DII selling Thursday: 880.49cr/596.28cr net.
Geopolitics looms large, with oil’s surge potentially fanning inflation. Defense stocks’ leadership suggests strategic bets amid turmoil, setting stage for intraday swings.