Indian Markets Slip as Oil Surge Weighs on Sentiment
Indian benchmark indices ended lower on Friday as rising crude oil prices and renewed U.S.-Iran attacks in the Middle East weakened investor confidence. The Nifty 50 declined 0.43% to 24,222.65, while the Sensex dropped 0.48% to 77,484.74. Broader Asian markets also fell after Brent crude climbed above $100 per barrel, raising concerns over inflation and economic pressure on oil-importing nations like India.
Most sectoral indices traded in the red, with banking heavyweight HDFC Bank falling 1.5%. However, ICICI Bank and Reliance Industries gained 0.8% each. Market experts said investor sentiment remained fragile due to escalating geopolitical tensions and uncertainty around the Middle East ceasefire situation.
Among individual stocks, Britannia Industries dropped 4.5% after brokerages flagged weak sales growth despite a rise in quarterly profit. On the other hand, diagnostic firms Vijaya Diagnostics and Thyrocare Technologies rallied after strong earnings. Thermax jumped 8.3% on robust quarterly profit growth, while Dabur India gained up to 3.7% following better-than-expected results supported by stable domestic demand and cost-control measures.
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