Mumbai– Indian equity markets suffered sharp losses on Thursday, as rising geopolitical tensions between the United States and Iran, along with weak global cues, triggered a broad-based selloff. The Sensex tumbled 823.16 points, or 1 percent, to close at 81,691.98 after hitting an intra-day low of 81,523.16.
The Nifty also slipped below the crucial 25,000 mark, ending the session at 24,888.20, down by 253.20 points or 1.01 percent. Market sentiment was dragged down by fears over oil price spikes, valuation concerns, and signs of a global economic slowdown.
Among the 30 Sensex components, Tata Motors, Titan, Power Grid, Tata Steel, L&T, and Mahindra & Mahindra were the biggest losers, each falling more than 2 percent. Only Bajaj Finserv, Asian Paints, and Tech Mahindra managed to end the day in positive territory.
The broader market was hit hard as well, with the Nifty Midcap100 declining by 1.73 percent and the Nifty Smallcap100 losing 1.90 percent, reflecting a selloff across large-, mid-, and small-cap stocks.
All sectoral indices closed in the red. The Nifty Realty index led the decline with a drop of 2.02 percent. Real estate stocks such as Phoenix Mills, Godrej Properties, Anant Raj, DLF, Prestige, Sobha, Brigade Enterprises, and Macrotech Developers fell by up to 3 percent.
Other sectors, including energy, consumer durables, oil & gas, auto, public sector banks, FMCG, metals, and financial services, also posted losses of more than 1 percent each.
“Consolidation in domestic markets is now evolving into a broad-based trend, extending even to large-cap stocks,” said Vinod Nair, Head of Research at Geojit Financial Services. “Valuation concerns, rising oil prices due to escalating tensions in the Middle East, and upcoming U.S. tariff decisions are all contributing to investor caution.”
Nair added that geopolitical and economic uncertainty is driving renewed safe-haven buying in gold.
Market volatility also increased, with the India VIX — a key gauge of market fear — rising 2.54 percent to 14.01.
Investors are expected to remain cautious as developments in the Middle East and potential U.S. trade moves unfold in the coming weeks. (Source: IANS)
