Domestic equity markets concluded the week under pressure on Friday as renewed military actions near the Strait of Hormuz weighed heavily on investor sentiment, pulling both benchmark indices lower. The BSE Sensex settled at 77,328.19, declining by 516.33 points or 0.66 per cent, while the Nifty 50 closed at 24,176.15, falling 150.50 points or 0.62 per cent.
Top Gainers and Losers
Among the top gainers on the Nifty 50, Titan Company surged by 4.68 per cent to Rs 4,509, followed by Apollo Hospital (up 3.32 per cent to Rs 8,097), Asian Paints (up 2.74 per cent to Rs 2,600), Tata Consumer (up 2.13 per cent to Rs 1,176), and Adani Ports SEZ (up 1.60 per cent to Rs 1,760). Other notable gainers included Infosys (up 1.42 per cent to Rs 1,179), HCL Tech (up 1.27 per cent to Rs 1,198), Tech Mahindra (up 1.03 per cent to Rs 1,463), Bajaj Auto (up 1.01 per cent to Rs 10,712), and Sun Pharma (up 0.74 per cent to Rs 1,848).
On the Sensex, the top gainers mirrored the Nifty, with Titan Company leading at a 4.68 per cent gain, followed by Asian Paints (2.74 per cent), Adani Ports SEZ (1.60 per cent), Infosys (1.42 per cent), HCL Tech (1.27 per cent), Tech Mahindra (1.03 per cent), and Sun Pharma (0.74 per cent). Kwality Wall's and HUL also made the list with gains of 0.73 per cent and 0.69 per cent, respectively, while NTPC rose 0.45 per cent.
Conversely, the top losers on the Nifty 50 included SBI, which plummeted by 6.66 per cent to Rs 1,019, Coal India Ltd (down 2.20 per cent to Rs 456.40), HDFC Bank (down 1.91 per cent to Rs 780.85), Axis Bank (down 1.89 per cent to Rs 1,268), and Bajaj Finance (down 1.79 per cent to Rs 955.35). ONGC, UltraTech Cement, L&T, Trent, and M&M also experienced declines ranging from 1.20 per cent to 1.66 per cent.
On the Sensex, the top losers were SBI (down 6.66 per cent), HDFC Bank (down 1.91 per cent), Axis Bank (down 1.89 per cent), Bajaj Finance (down 1.79 per cent), UltraTech Cement (down 1.62 per cent), L&T (down 1.21 per cent), Trent (down 1.21 per cent), Tata Steel (down 1.20 per cent), M&M (down 1.20 per cent), and ICICI Bank (down 1.12 per cent).
Market Experts Weigh In
Market experts attributed the downturn to escalating US-Iran tensions and fading hopes of a ceasefire, which prompted investors to turn cautious and book profits across sectors. Vinod Nair, head of research at Geojit Investments, commented, as quoted by news agency ANI, that markets witnessed a risk-off session following fresh US-Iran military action near the Strait of Hormuz, which weakened ceasefire hopes and triggered profit booking. He noted that crude oil prices stabilising around $100 per barrel and softer US bond yields continued to provide some support to overall market sentiment and the rupee. Nair added that although the road ahead is slightly bumpy, optimism about a possible diplomatic resolution persists.
Sectoral Performance
Sectoral trends remained mixed during the session. The Nifty IT index emerged among the top gainers, rising 1.21 per cent. Nifty FMCG gained 0.19 per cent, while Nifty Media edged up 0.04 per cent. However, most other sectors faced selling pressure. The Nifty PSU Bank index declined more than 3 per cent, making it the worst-performing sectoral index of the day. Nifty Metal fell 0.87 per cent, while Nifty Auto slipped 0.29 per cent and Nifty Pharma dipped 0.10 per cent. Investors continued to focus on opportunities in mid- and small-cap stocks amid expectations of favourable corporate earnings and relatively attractive valuations.
Asian Markets Mostly Lower
Asian markets largely ended in negative territory amid cautious global sentiment. Japan's Nikkei 225 fell 0.35 per cent to close at 62,613, while the Hang Seng Index declined 0.92 per cent to 26,383. Singapore's Straits Times index slipped 0.41 per cent to 4,921, and Taiwan's weighted index dropped 0.79 per cent to 41,603. Among major Asian markets, only South Korea's KOSPI managed to end higher, posting a marginal gain of 0.11 per cent at 7,498.
