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India Today
3 days ago
- Business
- India Today
Sensex, Nifty crash as Israel attacks Iran; oil prices jump sharply
Benchmark stock market indices crashed after opening for trade on Friday, over rising geopolitical tensions with Israel launching an attack on Iran. Oil prices rose after the news of the rising conflict in the Middle S&P BSE Sensex tanked 838.78 points to 80,853.20, while the NSE Nifty50 lost 252.80 points to 24,635.40 as of 9:25 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said that close on the heels of the Ahmedabad air tragedy has come the news of Israel's attack on "The economic consequences of this Israeli strike can be profound if the attack and counter-attack by Iran lingers long. Israel has declared that the operation will last several days. Brent crude prices have flared up by around 12% to $78. It can rise further if Iran in retaliation closes the straight of Hormuz severely restricting oil supply," he market opened with widespread selling pressure as all stocks declined sharply. Among the relatively smaller losers, Bharti Airtel fell 0.32%, followed by ITC which dropped 0.46%. TCS declined 0.49%, while Sun Pharma lost 0.55% and Axis Bank fell 0.69% during the early trading the worst-hit side, Power Grid Corporation was the biggest loser, plummeting 1.84%, followed by Adani Ports which crashed 1.75%. Kotak Mahindra Bank tumbled 1.75%, Tata Motors declined 1.63%, and Reliance Industries fell 1.54% during the opening impact on market will depend on how long the conflict lingers. In the near-term the market will be in a risk-off mode. Sectors that uses oil derivatives as inputs like aviation, paints, adhesives and tyres will be hit hard. Oil producers like ONGC and Oil India will remain resilient," said broader market indices declined sharply today. Nifty Midcap 100 fell 0.90%, while Nifty Smallcap dropped 1.07%. India VIX, the volatility index, surged by 7.33%.All sectoral indices opened in negative territory during the session. Nifty Consumer Durables and Nifty Oil & Gas were the worst hit, both declining 1.25%, followed by Nifty Media at 1.21%, Nifty PSU Bank at 1.20%, Nifty Auto at 1.16%, Nifty Financial Services at 1.09%, Nifty Private Bank at 1.07%, Nifty FMCG at 0.95%, Nifty IT at 0.91%, Nifty Metal at 0.91%, Nifty Realty at 0.72%, Nifty Pharma at 0.61%, and Nifty Healthcare at 0.59%.No indices managed to open in positive territory.(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.)
India Today
24-04-2025
- Business
- India Today
Sensex, Nifty slip as investors book profit after 7-day market rally
Benchmark stock market indices opened lower on Thursday, as investors booked profit in early trade, given Dalal Street has logged gains in the last seven S&P BSE Sensex fell by 159.23 points to 79,957.26, while the NSE Nifty50 was down by 72.20 points to 24,256.75 as of 9:28 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that Nifty's decoupling from the S&P 500 is "While S&P 500 is down 8.4% YTD Nifty is up 2.27% YTD. The resilience of the Indian economy, the expected slowdown in the US economy, the weakness in the dollar and the steady FII buying in India of Rs 21263 crores in the last 6 days are contributing to the outperformance of India," he Bank led the gainers pack with a rise of 3.79% on Sensex, followed by Nestle India gaining 1.51%.Tech Mahindra continued its recent positive momentum with a 1.39% increase, while Hindustan Unilever added 1.19%, and Axis Bank rounded out the top five gainers with a 1.04% Enterprises saw the steepest decline of 1.11%, while Bharti Airtel dropped by 1.03%. LT (Larsen & Toubro) fell by 0.38%, ICICI Bank decreased by 0.36%, and Reliance Industries slipped by 0.25%.advertisement"The stretched valuations (Nifty is trading above 20 times estimated FY 26 earnings) will constrain the rally. In the very short run, the market may respond to the results flowing in," said broader indices posted modest gains with the Nifty Midcap100 advancing 0.11% and the Nifty Smallcap100 rising 0.27%, while market volatility increased as India VIX climbed 3.46%.Among sectoral indices, decent performances were seen in Nifty Pharma leading the gainers with a 0.74% jump, followed by Nifty Metal up 0.43%, Nifty PSU Bank rising 0.35%, Nifty Healthcare adding 0.19%, Nifty Oil & Gas edging up 0.07%, Nifty FMCG gaining 0.06%, Nifty Private Bank increasing 0.03%, and Nifty IT closing marginally higher by 0.02%.Nifty Realty faced a decline of 0.96%, while Nifty Consumer Durables fell 0.28%, Nifty Financial Services dropped 0.22%, Nifty Auto slipped 0.14%, and Nifty Media shed 0.07%.(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
