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Sensex, Nifty fall as crude rises and financial stocks weaken
The Sensex fell 235.36 points to 78,699.80 and the Nifty declined 24.30 points to 24,608.25 in early trade on Friday, dragged by financial stocks and higher crude prices. Brent crude rose 1.16%…
The Story in Brief
The Sensex fell 235.36 points to 78,699.80 and the Nifty declined 24.30 points to 24,608.25 in early trade on Friday, dragged by financial stocks and higher crude prices. Brent crude rose 1.16% to $83.45 a barrel. Bajaj Finance, Bajaj Finserv, Trent, ICICI Bank, Bharti Airtel and Eternal were among the laggards, while TCS, Tech Mahindra, HCL Tech and Infosys gained.
Wall Street ended lower and Asian markets were mixed as investors watched developments involving Iran and the Strait of Hormuz. Foreign institutional investors sold equities worth Rs 17.86 crore on Thursday. The previous day, the Sensex gained 373.76 points and the Nifty edged up 11.35 points to 24,636.
The Indian Opinion
The lazy claim that one geopolitical headline explains every market move overlooks the mix of crude prices, financial-stock selling, foreign flows and weaker global cues. Nor should Thursday’s gain be treated as proof that investors have turned confident. The new closing-auction system may also affect price comparisons, but its impact needs evidence rather than instant blame. The practical test is whether Brent stays above $83 and the Nifty holds 24,600.
Sources (7): timesofindia.indiatimes.com, livemint.com, livemint.com (2), ndtvprofit.com, rediff.com, telanganatoday.com, thehindu.com
This story was synthesised by AI from the 7 sources linked above.
Updated: this story now draws on 7 sources.
