Indian Markets Extend Losing Streak to Fifth Session on Geopolitical and Tariff Worries

Indian benchmark equity indices closed lower for a fifth consecutive session on Friday, as lingering geopolitical tensions in West Asia and renewed concerns over US trade tariffs dampened investor sentiment. The BSE Sensex fell 331 points, or 0.43%, to settle at 76,059.17, while the Nifty 50 declined 102 points, or 0.43%, to 23,767.70.

According to market analysts, the persistent selling pressure was driven by caution over the Iran-US conflict and fresh tariff announcements from Washington. ‘Weakness across Asian markets reinforced the risk-off mood, prompting broad-based selling despite signs of easing pressure in energy markets,’ said Ponmudi R, CEO of Enrich Money.

Sectoral performance was mixed, with Nifty Auto dropping 1.13% and Nifty Metal falling 0.57%, while Nifty Media surged over 2% and Nifty IT advanced 0.87%. Top gainers on the Nifty 50 included HCL Tech, Wipro, and Cipla, while Bajaj Finance, Eternal, and Mahindra & Mahindra were among the losers.

In commodities, Brent crude prices declined around 4% to $96.73 per barrel, offering some relief. The Indian rupee remained under pressure, trading near Rs 96.52 per US dollar after hitting a two-month low of Rs 96.67. Globally, Asian markets mostly fell, with Japan’s Nikkei 225 dropping over 3% and Hong Kong’s Hang Seng down 1.05%.

Despite the downturn, some analysts see buying opportunities. ‘The sharp recovery from lower levels indicates buyers are active near key support zones. Traders may maintain a buy-on-dips approach with disciplined risk management,’ said Riyank Arora of Hedged.in.

Article and image source: hongkongherald.com