Indian benchmark indices closed Thursday’s volatile session with sharp losses, weighed down by global cues and persistent geopolitical uncertainty.
The BSE Sensex fell 582.86 points, or 0.75 per cent, to settle at 76,913.50. The NSE Nifty 50 declined 180.10 points, or 0.74 per cent, to close at 23,997.55.
Broader markets mirrored the weakness. The Nifty Midcap index slipped 0.98 per cent, while the Nifty Smallcap index edged 0.48 per cent lower.
Sectorally, trends were mixed. Defensive pockets such as Nifty IT and Nifty Pharma outperformed the broader market, while cyclical sectors bore the brunt of the selling pressure. Nifty Metal and Nifty Construction Durable indices were among the worst hit, dragged by concerns over rising input costs and global uncertainty.
Asian markets largely ended in the red, reflecting cautious sentiment across the region. Indonesia’s Jakarta Composite dropped 2.08 per cent, while Hong Kong’s Hang Seng fell 1.39 per cent. Japan’s Nikkei 225 declined 1.29 per cent (762.46 points). In contrast, Singapore’s Straits Times rose 1.06 per cent, and China’s Shanghai Composite edged up 0.11 per cent.
US markets indicated a mixed trend with a negative bias. Dow Jones futures were down 0.18 per cent, the S&P 500 slipped 0.04 per cent, while the Nasdaq inched up 0.04 per cent.
Geopolitical tensions remained elevated as the United States stepped up efforts to build an international coalition to restore navigation through the Strait of Hormuz, which has remained effectively shut for nearly two months, disrupting about 20% of global oil and gas supplies.
With talks between Washington and Tehran stalled, the US has intensified pressure through a blockade of Iranian oil exports while exploring further military options, raising the risk of prolonged supply disruptions. The escalation has driven crude prices to multi-year highs, fuelling inflation concerns and deepening fears of a broader economic slowdown.
In commodities, Brent crude futures surged to a four-year high of USD 121 per barrel during early trade after opening around USD 111 per barrel. WTI crude also traded sharply higher near USD 108 per barrel.
At the time of filing this report, Brent crude had pared some gains but remained elevated, down 1.22 per cent at USD 116.59 per barrel.
(With inputs from agencies)
