Indian stock markets ended lower on Friday, extending their losses for a fourth consecutive session as rising crude oil prices, geopolitical tensions and selling in midcap and smallcap stocks weighed on investor sentiment, as per media reports.
The BSE Sensex fell 125.56 points, or 0.17%, to close at 73,123.83. The NSE Nifty 50 declined 87.65 points, or 0.39%, to settle at 22,600.
Tata Steel was among the biggest losers, falling 3.21%. Adani Ports dropped 3.03%, while Trent declined 2.13%. Eternal led the gainers, rising 3.97%, followed by Larsen & Toubro, which gained 1.25%.
Selling pressure was stronger in the broader market. The Nifty Smallcap 100 fell 2.94%, while the Nifty Midcap 100 lost 2.21%. Metal and real estate stocks also faced heavy selling.
Brent crude rose to $114.29 a barrel, raising concerns about inflation, India’s import bill and corporate profit margins. The rupee weakened to 94.94 against the US dollar.
Market experts said elevated oil prices, global uncertainty and valuation concerns could keep markets volatile in the near term. Investors are likely to track crude prices, global cues and upcoming corporate earnings.
Meanwhile, Jio Platforms’ Rs 30,213-crore initial public offering received strong demand. The issue was subscribed 6.98 times by 12.04 pm on Friday, its final day of bidding, as per media reports.
Disclaimer: The views and opinions expressed by market experts in this article are their own and do not constitute investment advice. Investors should consult a qualified financial adviser before making any investment or trading decisions. Stock market investments are subject to market risks.
