The equity markets witnessed renewed selling pressure on Thursday, with both benchmark indices closing in the red amid rising uncertainty in the ongoing Middle East conflict.
The Nifty 50 index closed at 23,775.10, declining by 222.25 points or 0.93 per cent, while the BSE Sensex ended at 76,631.65, falling by 931.25 points or 1.20 per cent.
Market experts attributed the decline to fading optimism around the ceasefire and renewed geopolitical tensions impacting investor sentiment.
Sectorally, a mixed trend was observed on the NSE. Indices such as IT, metal, pharma, and healthcare managed to close with gains, while pressure was seen in financial, auto, FMCG, media, PSU bank, and realty sectors, which ended in the red.
In the commodities market, Brent crude prices surged and were trading around USD 99 per barrel, moving closer to the USD 100 mark amid persistent tensions in West Asia.
Asian markets also reflected a weak trend, with most indices closing lower. Japan’s Nikkei 225 declined by 0.46 per cent to 56,050, Singapore’s Straits Times fell 0.38 per cent to 4,977, South Korea’s KOSPI dropped 1.63 per cent to 5,778, and Hong Kong’s Hang Seng index slipped 0.50 per cent to 25,764. Taiwan’s weighted index was the only major market to close higher.
(ANI)
