The Sensex dropped 298.75 points to 77,760.21, while the Nifty fell 74.20 points to 24,321.90 in early trade. This marks a roughly 1% decline for the week, ending a two‑week winning streak. All Nifty sectoral indices fell, except the consumer durables index, which rose 0.6%. The Nifty Smallcap 100 and Nifty Midcap 100 indices slipped 0.2% and 0.3% respectively. Metal stocks led the fall, down 1.3% on weaker aluminium and copper makers. Heavyweight financial stocks fell 0.2% for the day, taking their weekly loss to 0.7%. Tata Motors was the biggest loser on the Nifty 50, sliding 5% after an 80% slump in quarterly profit due to higher costs and forex losses. LG Electronics India jumped 7% after reporting strong results and reaffirming its full‑year revenue target. Brent crude traded near US$87 per barrel, up 4% this week as the US‑Iran standoff keeps oil prices elevated. The rise in oil prices heightens inflationary and currency concerns for India. Global markets were muted: Shanghai’s SSE Composite and Hong Kong’s Hang Seng indices traded lower, while U.S. futures opened in the red, signalling a flat start to the week. Foreign institutional investors continued selling, offloading shares worth Rs 510 crore on Thursday, extending the selling trend. Analysts note the situation: Ponmudi R says the unresolved standoff keeps oil prices high, affecting inflation and currency. Dharmesh Kant observes the market is consolidating with no fresh macro triggers. Anand James highlights technical patterns that hint at a bounce but advises keeping a downside guard near 24,329–24,000.
Sensex, Nifty fall as oil prices surge amid US‑Iran standoff
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