Sensex tumbles 800 points: Why is the stock market falling today?
Indian stocks opened lower after the army reported overnight drone and munition attacks by Pakistani forces along the western border, but none of the indices witnessed a major crash. Explosions were heard in Jammu late Thursday as Islamabad targeted Indian military installations in Kashmir, pushing tensions between the two nuclear-armed neighbours to a new high.BROADER MARKET HIT HARDWhile the main indices on Dalal Street fell sharply, broader indices fared worse—small-cap and mid-cap stocks fell up to 2%, reflecting a widespread risk-off sentiment across sectors.Volatility also surged, with the India VIX hitting a one-month high in its eighth straight session of gains.FEAR OF MORE ESCALATION OVER THE WEEKENDTraders said the extent of escalation was not priced in. 'We're unwinding all risk positions,' one trader told Reuters, adding that if tensions flare over the weekend, the markets may see further selling early next week. Market veterans like Ambareesh Baliga noted that sentiment had earlier downplayed the risk of full-scale conflict, making Friday's slide more acute.DEFENCE STOCKS RISEadvertisementAmid the chaos, defence stocks bucked the trend. Shares of Bharat Electronics and Hindustan Aeronautics rose over 2–3% as investors bet on increased defence procurement and government support for indigenous capabilities.The Nifty Defence index outperformed even as all 13 other sectoral indices declined.BE CAUTIOUS, DON'T PANICDespite the fall, experts say there's no need to panic. Geojit's Dr. VK Vijayakumar pointed out that India's military superiority, strong economic fundamentals, and resilient macro environment are cushioning the downside.With high GDP growth projections, easing inflation, and continued FII inflows over the last 16 sessions, long-term investors are being advised to stay the course and wait for clarity.Simply put, geopolitics—not macroeconomics—is driving Friday's correction. If tensions ease, analysts believe the market could rebound quickly.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
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