CHENNAI: Indian equity benchmarks tumbled sharply in early trade on Friday as rising geopolitical tensions between Israel and Iran spooked global investors and triggered broad-based selling across sectors.
At 9:33 AM, the BSE Sensex plunged 896.5 points, or 1.10%, to 80,795.44, while the NSE Nifty slumped 278.5 points, or 1.12%, to 24,609.70. Market sentiment remained jittery amid a risk-off mood in global equities and weakness in Asian peers.
Slightly recovered from the interim, Sensex at 80931.11 was down 760.87 points or 0.93% at 11. 12 AM.
Selling pressure was pronounced in key sectors including auto, IT, financial services, and PSU banks, reflecting concerns over potential disruptions in oil supply chains and heightened global uncertainty.
The Nifty Bank index shed 633.80 points, or 1.13%, to trade at 55,448.75. Broader markets were also under pressure, with the Nifty Midcap 100 dropping 603.90 points, or 1.03%, to 57,836.95, while the Nifty Smallcap 100 declined 192.75 points, or 1.04%, to 18,272.30.
Volatility is expected to remain elevated through the day as investors track further developments in West Asia, along with cues from global markets and crude oil prices.