Market Mayhem: Sensex and Nifty Tumble Amid Global Tensions

The Sensex and Nifty indices fell sharply, impacted by foreign capital outflows and rising global tensions from West Asia. The Sensex dropped by 808.65 points, while the Nifty declined by 235.50 points. Major selling was observed in FMCG, auto, and energy stocks amid rising crude prices.

Equity markets faced a turbulent trading session on Friday, with benchmark indices Sensex and Nifty both recording nearly 1% declines. This downward trend was largely attributed to aggressive sell-offs in FMCG, auto, and energy sectors, set against a backdrop of increasing geopolitical tensions in West Asia and continuous foreign capital outflows.

The BSE Sensex plummeted 808.65 points, representing a fall of 0.98%, to finish at 81,688.45. It experienced significant volatility throughout the day, swinging 1,835.64 points between a low of 81,532.68 and a high of 83,368.32. Similarly, the NSE Nifty saw a drop of 235.50 points, or 0.93%, settling at 25,014.60.

Markets in Asia, while largely positive, saw mixed performances, with Seoul, Tokyo, and Hong Kong ending on higher notes. In contrast, the US markets concluded lower. Analysts point to foreign institutional investors redirecting funds from India to Hong Kong, hoping that Chinese economic recovery stimuli will enhance earnings for Chinese companies.

(With inputs from agencies.)