Indian equity benchmarks ended sharply lower on Friday, extending losses for a third straight session and closing at their lowest levels in nearly 11 months as escalating tensions in West Asia weighed heavily on investor sentiment.
The BSE Sensex plunged 1,471 points to settle at 74,564, while the Nifty 50 dropped 488 points to 23,151, slipping below the 23,200 mark for the first time since April 7, 2025. Selling was broad-based, with 28 of the 30 Sensex constituents ending in the red and 47 Nifty stocks closing lower.
Broader markets fared even worse, as the advance-decline ratio on the National Stock Exchange of India stood at a weak 1:6. All sectoral indices ended in the red, with metals and auto stocks leading the losses. Among the biggest Nifty laggards were Larsen & Toubro Ltd, Hindalco Industries Ltd, Tata Steel Ltd, Tata Motors Ltd and UltraTech Cement Ltd.
The rout also erased more than ₹10 lakh crore in market capitalisation of companies listed on the BSE Ltd. Banking shares were under pressure as well, with the Nifty Bank index sliding 1,343 points to close at 53,758.
Several stocks saw sharp moves during the session. Shares of PG Electroplast Ltd fell about 6% after the company warned that gas shortages could impact its FY26 guidance, while Balaji Amines Ltd declined over 3% amid concerns over ammonia supply disruptions due to the Iran conflict. In contrast, Muthoot Finance Ltd managed to buck the broader trend and ended nearly 3% higher.
Energy markets also added to the nervousness, with Brent crude surging above $101 per barrel during the session. Shares of Hindustan Petroleum Corporation Ltd fell over 4% amid concerns over rising input costs.
The rupee also weakened, ending at 92.46 against the US dollar compared with Thursday’s close of 92.19.
Markets this week
The sharp fall on Friday capped a difficult week for Indian equities. Both the Sensex and the Nifty declined more than 5% during the week, marking their steepest weekly fall in nearly four years as geopolitical tensions and surging oil prices dented risk appetite.
All sectoral indices ended the week in the red, with auto stocks emerging as the biggest drag. The Nifty Bank index slid more than 7% over the week, with all its constituents closing lower.
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Market breadth remained weak, with 45 Nifty stocks delivering negative returns during the week and 24 stocks declining between 5% and 12%. Among the biggest losers on the benchmark index were Larsen & Toubro Ltd, Mahindra & Mahindra Ltd, UltraTech Cement Ltd, Eicher Motors Ltd and Maruti Suzuki India Ltd.
In the broader market, midcap names such as Polycab India Ltd, IDBI Bank Ltd, Mangalore Refinery and Petrochemicals Ltd and Bharat Forge Ltd were among the biggest laggards as risk aversion intensified across the market.
