Sensex Drops 416 Points, Nifty Slips Below 24,000 Amid Global Uncertainty and FII Outflows
Indian stock markets declined as Sensex fell 416 points and Nifty slipped below 24,000 due to rising crude oil prices, geopolitical tensions, and continued foreign fund outflows.
Prasanth Subramani
Indian equity markets ended lower as heavy selling in financial, IT, and automobile stocks dragged indices down. The BSE Sensex declined by 416.72 points to close at 76,886.91, while the Nifty 50 slipped 97 points to settle at 23,995.70, falling below the key 24,000 mark.
Investor sentiment remained weak due to rising geopolitical tensions, increasing crude oil prices, and continued foreign institutional investor (FII) outflows, which created uncertainty in the markets.
Among Sensex stocks, declines were seen in companies such as Axis Bank, HCL Technologies, InterGlobe Aviation, Maruti Suzuki, State Bank of India, and ICICI Bank.
On the other hand, gains were recorded in Reliance Industries, Bharti Airtel, Tech Mahindra, and Sun Pharma.
In the Nifty 50 index, stocks such as Maruti Suzuki, Axis Bank, HCL Technologies, Shriram Finance, and InterGlobe Aviation declined, while ONGC, Coal India, Nestle India, Adani Enterprises, and Reliance Industries moved higher.
Broader markets showed some resilience, with the Nifty Midcap index rising 0.3% and the Smallcap index gaining 0.4%.
Sector-wise, public sector banks fell by 2%, while private banks and auto indices declined by around 1% each. The IT sector dropped 0.7%, and real estate fell 0.4%. In contrast, energy stocks gained 1.2%, oil & gas rose 1.5%, and metal stocks increased 0.5%.
Despite the broader market weakness, more than 150 stocks hit their 52-week highs on the BSE, including companies like NLC India, Vardhman Textiles, Kirloskar Oil, Adani Power, Tata Power, and NMDC.
According to market data, foreign institutional investors sold equities worth ₹1,151.48 crore in the previous trading session, further pressuring the market.
Globally, Asian markets including Japan’s Nikkei 225, Shanghai Composite, and Hong Kong’s Hang Seng ended lower, while South Korea’s Kospi managed to close higher. European markets traded in the green, while US markets ended flat.
Meanwhile, international Brent crude oil prices surged 2.97% to $111.4 per barrel, adding to inflation concerns and impacting investor sentiment.
