Noida, July 24 (APAC Media): Indian benchmark equity Sensex and Nifty indices ended sharply lower on Friday, extending losses for the fifth consecutive session, as rising crude oil prices, persistent foreign fund outflows, and escalating geopolitical tensions weighed on investor sentiment.
The BSE Sensex fell 332 points, or 0.43%, to close at 76,059.77, while the Nifty 50 declined 102 points, or 0.43%, to settle at 23,767.45. The broader markets also ended in negative territory, with the mid-cap and small-cap indices registering losses.
Market participants remained cautious after Brent crude oil prices climbed above the $100-per-barrel mark amid concerns over supply disruptions linked to tensions in the Middle East. Higher oil prices are expected to increase India’s import bill and could add inflationary pressure, affecting corporate earnings and economic growth.
Foreign institutional investors (FIIs) continued to sell, further impacting market sentiment amid uncertainty over global interest rates and elevated US Treasury yields.
Investors also tracked developments in the Middle East, where geopolitical risks have increased concerns over global energy supplies.
Selling pressure was visible across most sectoral indices, with auto, metal, realty and oil & gas stocks leading the decline.
However, select information technology and pharmaceutical stocks limited the overall losses.
According to market analysts, investors are likely to remain cautious in the near term as they assess the impact of geopolitical developments, movements in crude oil prices, foreign capital flows, and the ongoing corporate earnings season.
The market’s direction in the coming sessions is expected to depend on global cues, domestic macroeconomic data, and any easing in geopolitical tensions that could improve risk appetite among investors.
–ENDS–
Disclaimer:Â This article is for informational purposes only. APAC Media is not liable for any investment decisions or losses. Please conduct your own research or consult a financial advisor before investing.
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