Stock Market Tumbles on Oil Price Fears; Sensex Slumps 1,400 Points

Indian stock markets ended sharply lower on Friday as heavy selling dragged the benchmark indices down. The BSE Sensex plunged more than 1,470 points to close at 74,563.92, while the Nifty 50 dropped over 488 points to settle at 23,151.10. Investors remained cautious throughout the session due to global uncertainties and rising crude oil prices, which triggered broad-based selling across sectors.

Among the 30 Sensex companies, only a few stocks managed to stay in positive territory. Shares of Hindustan Unilever and Bharti Airtel were among the top gainers during the session. Meanwhile, major stocks such as ITC Limited, Reliance Industries, ICICI Bank, Asian Paints, and Bajaj Finance witnessed significant declines, which added to the overall market pressure.

The broader market also remained weak as midcap and smallcap stocks faced strong selling pressure. The Nifty Microcap 250 index declined by 2.91 percent as volatility remained high in the market. Sector-wise, banking stocks were among the worst performers, with the Nifty PSU Bank Index tumbling 3.72 percent during the trading session.

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Weak Opening for Markets

Earlier in the day, the market had opened on a weak note. At around 9:15 AM, the BSE Sensex started trading near 75,450 but quickly slipped nearly 600 points in early trade. Similarly, the Nifty 50 opened above 23,450 but soon fell more than 150 points as investors booked profits and reduced exposure amid rising global uncertainties.

Global geopolitical developments also weighed on investor sentiment. Iran’s newly appointed Supreme Leader Mojtaba Khamenei said the closure of the Strait of Hormuz would continue as a way to pressure enemy forces. His remarks increased concerns about escalating tensions involving the United States, Israel, and Iran, which could potentially disrupt global oil supply routes.

Meanwhile, global markets also traded in the red. The price of Brent Crude, the global oil benchmark, rose about 0.49 percent to around $101 per barrel. Asian markets including the Kospi Index, Nikkei 225, SSE Composite Index, and Hang Seng Index were trading lower. On Wall Street, major indices such as the Nasdaq Composite, Dow Jones Industrial Average, and S&P 500 had already closed sharply lower in the previous session, reflecting the broader global market weakness.

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