Friday’s trading session turned grim for Indian investors, with the Sensex plummeting 588 points or 0.72% to 79,427 around midday. Nifty conceded 154 points or 0.62%, landing at 24,612, as risk aversion swept through Mumbai’s exchanges.
The sell-off was most pronounced in financials and property counters, Nifty Bank down 1.31% and Realty slumping 1.85%. Consumer-facing and service-oriented stocks weakened alongside, though gains in defense, energy, PSE, oil & gas, commodities, and metals provided some counterbalance.
Escalating war drums from the US-Israel-Iran theater dominate headlines, casting long shadows over equities. Supply chain vulnerabilities in energy markets have heightened, prompting a reassessment of growth outlooks and inflation trajectories.
Benchmark crudes responded sharply—WTI $80.39/bbl, Brent $84.84/bbl—while safe-havens gleamed: Comex gold +0.81% to $5,120/oz, silver +2.96% to $84.61/oz. This shift underscores a classic risk-off pivot amid brewing storms.
Wall Street’s prior session offered no solace, closing with Dow -1.61% and Nasdaq -0.26%. Domestically, FIIs offloaded ₹3,752.52 crore worth of shares on Thursday, sustaining downward pressure on valuations.
As markets digest these headwinds, focus sharpens on de-escalation signals and macroeconomic indicators. Defensive plays may shine short-term, but sustained recovery hinges on resolving external shocks. Volatility persists—brace for swings.