Sensex Falls Nearly 1,000 Points, Investor Wealth Worth 8L Cr Lost; Why Are Markets Falling Today?
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Indian equity benchmarks erased early gains and turned sharply lower for the second consecutive session on Friday
Sensex Live | Stock Market Today: Indian equity benchmarks erased early gains and turned sharply lower for the second consecutive session on Friday, as investor sentiment soured in the wake of the recent terrorist attack on tourists in Kashmir, raising concerns over escalating geopolitical tensions.
By 10:33 AM, the BSE Sensex had plunged 981 points, or 1.23%, to 78,819. The NSE Nifty50 also slipped 301 points, or 1.24%, to 23,948.
This decline came after a strong start to the session, with the Sensex briefly touching 80,130 and the Nifty crossing the 24,350 level before selling pressure intensified.
The market capitalisation of all listed companies on BSE declined by Rs 8.5 lakh crore to Rs 421.13 lakh crore.
Indian equity markets faced a sharp downturn on Friday, reversing recent gains as investor sentiment soured amid rising geopolitical tensions and broad-based profit booking. The market's bearish turn comes on the back of a recent terrorist attack in Kashmir that killed several tourists, raising concerns of a potential escalation in tensions between India and Pakistan.
'Markets have had a remarkable run, moving from a level of 22,000 to above 24,400 on the Nifty. After such a strong rally, a phase of profit booking was expected," said Kranthi Bathini, Director – Equity Strategy at WealthMills Securities Pvt Ltd. 'Now, with heightened geopolitical risks, many investors are opting to book profits and shift to cash positions," he added.
Among the few gainers on the benchmark indices, TCS led the pack with a 0.70% rise, followed by Infosys, which gained 0.67%. IndusInd Bank also traded higher, adding 0.31%, while HDFC Bank saw a marginal uptick of 0.08%. ICICI Bank remained flat. On the other hand, Axis Bank saw the steepest fall, shedding 4.28%. Other major laggards included Adani Ports (down 3.38%), Bajaj Finance (2.61% lower), Bajaj Finserv (–2.49%), and Power Grid (–2.40%).
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The broader markets bore the brunt of the sell-off. The Nifty Midcap 100 index dropped 2.85%, while the Smallcap 100 index suffered an even sharper decline of 3.30%. Volatility spiked sharply, with the India VIX climbing 6.46%, reflecting a surge in market anxiety and investor nervousness.
The sell-off was widespread across sectors, with all major sectoral indices closing in the red. Nifty Media led the losses with a 3.54% decline, followed by Nifty PSU Bank, which fell 2.87%. Nifty Realty was down 2.69%, while Healthcare and Pharma both slipped by over 2.4%. Other significant losers included Nifty Metal (–2.42%), Consumer Durables (–2.08%), Oil & Gas (–1.97%), Auto (–1.88%), and Financial Services, Private Bank, and FMCG indices, which each fell by roughly 1.5–1.6%. Even the Nifty IT index, typically resilient during downturns, ended 0.45% lower.
advetisement
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the biggest overhang on the markets right now is the uncertainty regarding India's response to the Kashmir terror attack. 'The market is clearly on edge, waiting for clarity on the geopolitical front," he said.
Kranthi Bathini advised a cautious approach in the current climate. 'Due to the global uncertainty and escalating Indo-Pak tensions, investors should consider staying in cash unless they have a long-term investment horizon. Buying on dips may still be a viable strategy for those with patience," he noted.
advetisement
Global Markets
Asian equities were poised to notch their second consecutive week of gains on Friday, buoyed by growing optimism over a seemingly more measured approach from the White House towards China. Although no formal signs of reconciliation have emerged, the softer rhetoric has been welcomed by investors. Meanwhile, the US dollar appeared set to record its first weekly gain in over a month.
Positive sentiment was further fueled by strong corporate earnings from U.S. tech giant Alphabet, parent of Google, which surpassed profit expectations and reiterated its commitment to AI investments. The stock surged nearly 5% in after-hours trading, lifting peers and pushing S&P 500 futures up by 0.5%.
On Wall Street, despite mixed earnings reports, the S&P 500 ended Thursday's session with a solid 2% gain. In Asia, Hong Kong's Hang Seng Index climbed 0.9%, while China's Shanghai Composite and the blue-chip CSI300 posted modest gains.
FII Tracker
Foreign portfolio investors (FPIs) continued their buying spree in Indian equities, marking the seventh consecutive session of net inflows. On Thursday, FPIs invested a robust ₹8,251 crore (approximately $968 million), reinforcing strong foreign interest in domestic markets.
Crude Oil Trends
Crude oil prices ticked higher in early Friday trade but remained on course for weekly losses. Market sentiment was dampened by concerns of increased supply amid talks of an OPEC+ output hike and the potential for a ceasefire in the Russia-Ukraine conflict. At the same time, mixed signals from the U.S. regarding trade tariffs weighed on the demand outlook.
Brent crude futures edged up 5 cents to $66.60 per barrel, but remained set for a 2% weekly drop. U.S. West Texas Intermediate (WTI) crude rose 6 cents to $62.85 a barrel, on track for a 2.9% decline over the week.
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Rupee vs Dollar
The Indian rupee appreciated by 18 paise in early trade on Friday, reaching 85.15 against the U.S. dollar. Meanwhile, the dollar index—measuring the greenback's strength against a basket of six major global currencies—advanced 0.47% to 99.84, signaling renewed strength in the U.S. currency.
Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18.
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New Delhi, India, India
First Published:
April 25, 2025, 10:56 IST
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