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Bloomberg Quint
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Stock Market Highlights: Investors Lose Rs 2.96 Lakh Crore As Sensex, Nifty Slump On Israel-Iran Tensions
- The Indian stock market witnessed a decline as the benchmark indices, NSE Nifty 50 and BSE Sensex, closed lower due to prevailing tensions between Israel and Iran.
- NSE Nifty 50 ended 169 points (0.68%) lower at 24,718.60, while BSE Sensex closed 573 points (0.70%) down at 81,118.
- During the day, Nifty fell by 1.67% to trade at 24,473, and Sensex declined by 1.64% to 80,354.59.
- This week, both Nifty and Sensex fell by more than 1%, with Nifty decreasing by 500 points from its weekly high, breaking a two-day gaining streak.
- Top losers in Nifty included Eternal Ltd. and Adani Ports, while Nifty Midcap 150 and Nifty Smallcap 250 also recorded declines.
- Nifty Realty sector performed poorly with Brigade Enterprises Ltd. and Raymond Ltd. among the top losers.
- Shares of Bharat Electronics Ltd. and Oil and Natural Gas Corp. were the top gainers, while Adani Ports and Special Economic Zones Ltd. and ITC Ltd. faced losses.
- Bharat Electronics Ltd. and Tata Consultancy Services Industries Ltd. contributed to gains in the index, while HDFC Bank Ltd. and Reliance Industries Ltd. were major drags.
- On NSE, nine out of 11 sectors ended in the red, with Nifty PSU Bank, FMCG, and Bank sectors among the top losers.
- Overall, both BSE MidCap and BSE SmallCap closed 0.26% lower, indicating a negative trend in the broader market indices.
- Market breadth favored sellers with 1,530 stocks advancing, 2,547 declining, and 136 remaining unchanged on the BSE.
- The ongoing tensions between Israel and Iran impacted the market performance adversely.
- The situation led to a downtrend in various sectors and indices, resulting in investor concerns.
- The market outlook remains uncertain due to geopolitical tensions and other external factors.
- Investors are monitoring the developments closely to assess the market direction and plan their investment strategies accordingly.
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