MUMBAI — Indian equity benchmark indices opened lower on Friday morning as lingering geopolitical tensions between the United States and Iran cast a shadow over global investor sentiment and stoked fresh concerns around inflation.
The 30-share BSE Sensex dropped 298.75 points to trade at 77,760.21 during early morning deals, while the broader 50-share NSE Nifty slipped 74.20 points to touch 24,321.90.
Key Laggards and Gainers
In early trading within the Sensex basket, major downside pressure came from steel and banking heavyweights along with aviation and technology counters. Tata Steel, Axis Bank, InterGlobe Aviation, Tech Mahindra, Power Grid, and ITC were among the top market drag.
Conversely, gains in select blue-chip stocks helped cap deeper losses. Eternal, Titan, Adani Ports, and Bajaj Finance traded higher, resisting the broader market downturn.
Geopolitical Risks and Crude Oil Volatility
The ongoing standoff between Washington and Tehran continues to keep international energy markets on edge. Brent crude, the global oil benchmark, edged up 0.06 percent to $87.12 per barrel during early trade.
Analysts noted that elevated crude oil prices pose a direct challenge for net energy-importing economies like India, threatening to widen trade deficits, elevate consumer price pressures, and trigger local currency fluctuations.
"The unresolved US-Iran impasse continues to underpin crude oil prices, leaving oil-importing economies such as India more vulnerable to inflationary pressures and currency volatility," said Ponmudi R, CEO of wealth-tech firm Enrich Money.
Institutional Activity and Global Markets
Foreign Institutional Investors (FIIs) remained net sellers in the domestic market, offloading equities worth ₹510.69 crore on Thursday, according to provisional exchange data.
Asian equities presented a mixed landscape in morning trade. South Korea’s Kospi and Japan’s Nikkei 225 registered gains, whereas China's Shanghai SSE Composite and Hong Kong's Hang Seng index declined. Overnight, Wall Street closed higher following selective buying across technology and healthcare shares.
Previous Session Recap
On Thursday, late-session buying had helped the BSE Sensex erase initial losses to close 113.61 points, or 0.15 percent, higher at 78,079.96. Meanwhile, the NSE Nifty ended slightly weaker, shedding 40.10 points, or 0.16 percent, to close at 24,395.85, marking its third straight session of declines.
