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Mumbai: Equity benchmark indices Sensex and Nifty tumbled over 1 per cent on Friday, falling for the third consecutive day, as a sharp rally in crude prices and massive selling in IT counters weighed heavily on investors’ sentiment.
Unabated foreign fund outflows, a negative trend in global markets amid prolonged conflict and continued disruption in the Strait of Hormuz added to the gloom.
The 30-share BSE Sensex dropped 999.79 points, or 1.29 per cent, to settle at 76,664.21. During the day, it plunged 1,260.13 points or 1.62 per cent to 76,403.87.
A total of 2,905 stocks declined, while 1,326 advanced and 158 remained unchanged on the BSE.
The wider gauge NSE Nifty slumped 275.10 points, or 1.14 per cent, to end at 23,897.95.
On the weekly front, the BSE benchmark tanked 1,829.33 points, or 2.33 per cent, and the Nifty dropped 455.6 points, or 1.87 per cent.
“Indian equity markets extended their decline for a third consecutive session, as renewed risk-off sentiment weighed on investor confidence. Ongoing tensions in the Middle East, coupled with persistent weakness in the IT sector, continued to pressure an already fragile market backdrop.
“Volatility also increased, with the India VIX rising 6 per cent, reflecting heightened fear and uncertainty amid the prolonged conflict and continued disruption in the Strait of Hormuz, with no meaningful signs of de-escalation,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
From the Sensex constituents, Infosys dived 7.09 per cent after its revenue growth forecast for FY27 came in lower than market expectations.
HCL Tech, Tata Consultancy Services, Tech Mahindra, Sun Pharma, Asian Paints and ICICI Bank were also among the major laggards.
In contrast, Trent, Bajaj Finance, State Bank of India, HDFC Bank and Kotak Mahindra Bank were the winners.
The BSE SmallCap Select index dropped 0.95 per cent, and the MidCap Select index dipped 0.91 per cent.
All sectoral indices ended lower. The BSE IT tanked 5.13 per cent, BSE Focused IT (4.65 per cent), Healthcare (1.35 per cent), Telecommunication (1.33 per cent), Realty (1.30 per cent), Services (1.17 per cent) and Consumer Discretionary (1.04 per cent).
“Indian markets extended their weakness for a third consecutive session, closing on a cautious and lower note as subdued global cues, weak earnings sentiment from IT majors, rising crude oil prices, inflation concerns, and currency pressure weighed on overall sentiment, keeping investors largely on the sidelines despite selective stock-specific buying interest,” Gaurav Garg, Analyst, Lemonn Markets Desk, said.
Brent crude, the global oil benchmark, traded 2.17 per cent higher at USD 107.3 per barrel.
Foreign institutional investors (FIIs) offloaded equities worth Rs 3,254.71 crore on Thursday, according to exchange data.
“IT stocks led the decline following disappointing quarterly earnings, while selling pressure was broad-based across sectors. FIIs returned to net selling again after a brief spell of inflows,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea’s benchmark Kospi and Shanghai’s SSE Composite index ended lower, while Japan’s Nikkei 225 and Hong Kong’s Hang Seng settled higher.
Markets in Europe were trading lower in afternoon trade.
US markets ended lower on Thursday.
“Markets are likely to consolidate in the near term, with sentiment staying cautious as investors continue to monitor developments in the West Asia conflict. The ongoing uncertainty around US-Iran negotiations, coupled with disruptions in the Strait of Hormuz, is keeping crude oil prices elevated and risk appetite subdued.
“The lack of meaningful progress on the geopolitical front is expected to keep pressure on energy prices, rupee and equity markets,” Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
On Thursday, the Sensex tumbled 852.49 points or 1.09 per cent to settle at 77,664. The Nifty dropped 205.05 points or 0.84 per cent to end at 24,173.05.
This post was last modified on April 24, 2026 5:50 pm