The Stock Market on Friday ended in the red for a second session, weighed down by rising tensions in the Middle East after Israel’s military strikes on Iran.
However, a recovery helped the markets close off at day’s low.
At close, Sensex was down 573.38 points or 0.70 per cent at 81,118.60, while the Nifty was down 169.60 points or 0.68 per cent at 24,718.60.
Broader indices outperformed with BSE mid and small-cap indices down 0.3 per cent each.
Volatility index India VIX jumped 7.59 per cent to 15.08, indicating elevated nervousness among market participants.
Israeli strikes on Iran early Friday targeted nuclear-linked facilities, escalating fears of a broader conflict in the region.
The top gainers on Nifty50 were Bharat Electronics (BEL) up by 2 per cent, ONGC up by 1.28 per cent and Tech Mahindra up by 0.83 per cent. While the stock of Shriram Finance ended flat.
Notably, around 38 stocks ended in red with the top losers being Adani Ports and Special Economic Zone down by 2.27 per cent, ITC down by 1.67 per cent and SBI down by 1.57 per cent.
Among the sectors, most of them ended in the red, with the banking and financial sectors losing significantly.
Nifty FMCG and Metal were down by 0.96 per cent, while on the other hand, Nifty IT, Realty, and Healthcare indices ended flat.
Nifty Bank, Financial Services, PSU Bank, and Private Bank indices lost about a per cent each.
State Bank of India (SBI) shares closed nearly 1.6 per cent lower at Rs 793 apiece.
Shares of listed carriers InterGlobe Aviation (IndiGo) and SpiceJet fell up to 4 per cent in early trade as investors reacted to the incident.
Oil India shares gained over 2 per cent, as rising crude oil prices are likely to benefit the company’s margins.
The Indian stock market followed the weak global cues with the Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng, traded lower.
Wall Street futures were also down over 1 per cent around 10:15 AM IST, reflecting rising investor nervousness.