Sensex and Nifty Experience Over 1% Drop Amid Rising Geopolitical Concerns
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Synopsis
On April 25, the Indian stock market faced a significant decline, with Sensex and Nifty plunging over 1% due to geopolitical tensions affecting investor confidence. The broader markets also saw considerable losses, prompting close monitoring of diplomatic updates.
Key Takeaways
- Sensex and Nifty fell over 1% amid geopolitical tensions.
- Only a few stocks in the Sensex made gains.
- Broader markets saw declines of over 3%.
- Investors are watching diplomatic updates closely.
- FIIs bought equities while DIIs sold on April 24.
Mumbai, April 25 (NationPress) The Indian stock market experienced a significant drop on Friday shortly after trading commenced, as investor anxiety surrounding ongoing geopolitical tensions continued to unsettle market participants.
Initially, the domestic benchmark indices opened either flat or slightly positive in the morning session, but quickly turned negative during intra-day trading. Both Sensex and Nifty declined by over 1 percent due to the prevailing uncertainty related to India-Pakistan relations.
By approximately 11:55 am, the Sensex was recorded at 78,669.26, down by 1,132.1 points or 1.42 percent, while the Nifty fell to 23,872.30, losing 374.40 points or 1.54 percent.
Among the 30 stocks in the Sensex index, only Infosys, TCS, IndusInd Bank, and Tech Mahindra managed to gain, while top losers included Axis Bank, Bajaj Finserv, PowerGrid, Bajaj Finance, and Eternal.
The broader markets faced even steeper declines, with both small and mid-cap stocks dropping by over 3 percent.
The Nifty Bank index saw a decrease of 856.25 points or 1.55 percent, resting at 54,345.15. The Nifty Midcap 100 index fell to 53,178.50, down 1,791.35 points or 3.26 percent, while the Nifty Smallcap 100 index ended at 16,352.75, down 610.76 points or 3.06 percent.
Sector-wise, the Nifty Media index plummeted by 3.73 percent, followed by Nifty Energy which fell by 2.91 percent.
The Nifty Realty index dropped by 2.76 percent, with Nifty Metal down by 2.56 percent, and the Nifty FMCG index also declined between 1.3 percent to 1.5 percent.
The Nifty PSU Bank index was also in negative territory, down by 2.15 percent during the intra-day trading session.
Market analysts suggest that throughout the day, investors will be closely observing diplomatic developments regarding the India-Pakistan situation, along with any positive statements from the government that might alleviate concerns on Dalal Street.
On April 24, foreign institutional investors (FIIs) purchased equities valued at Rs 8,250.53 crore, while domestic institutional investors (DIIs) sold equities worth Rs 534.54 crore on the same day.
IANS
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