Geopolitical heat on markets; Crude oil surge and war fears trigger a sell-off
The Indian stock market witnessed intense volatility on Friday, driven by escalating geopolitical tensions in the Middle East and the ongoing US-Israel-Iran conflict. With crude oil prices soaring back to $100 per barrel, market sentiment has turned extremely cautious.
Nifty 50 and Sensex both recorded sharp declines, with Nifty Bank plunging by 1,100 points. Sectors like Auto, Finance, Realty, and PSU Banks are currently under significant selling pressure. In this volatile environment, FMCG has emerged as the only sector trading in the green, as investors shift toward safer consumer-staple stocks.
The financial impact has also reached currency markets, with the Indian Rupee touching a record low of 92.44 against the US Dollar. Out of the 50 Nifty constituents, 45 are trading in the red, with major losses seen in Hindalco, L&T, Tata Steel, and Tata Motors. Only a few stocks, including Tata Consumer, HUL, and Bharti Airtel, are showing resilience.
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