Indian stock markets closed lower on Friday, ending a two-day winning streak due to uncertainty surrounding talks involving the United States, Israel, and Iran. The benchmark indices experienced heavy selling pressure, with the Nifty falling 2.09% to 22,819.60 and the Sensex dropping 2.25% to 73,583.22. Analysts suggest that any rebound towards 23,500 could face selling pressure, while breaking below 22,800 may lead to further market weakness.
Reliance Industries saw the most significant decline on the Sensex, dropping by 4.55%. Other top losers on the 30-share pack included Bajaj Finance, IndiGo, Eternal, and HDFC Bank. Conversely, TCS, Bharti Airtel, and Power Grid were the only three stocks that closed in the green. The broader markets also ended in the red, with the Nifty MidCap index declining by 2.24% and the SmallCap index slipping by 1.88%.
Sectoral indices like PSU banks, realty, and auto stocks faced notable declines, impacting overall market sentiment. However, the IT sector managed to limit losses and emerged as the best-performing segment for the day, providing some support amid the broader sell-off. The sharp market fall reflects growing caution among investors as global uncertainties continue to influence market sentiment.
