Indian markets staged a partial recovery by midday Friday after opening sharply lower amid intensifying tensions in the Middle East. However, benchmark indices remained in negative territory as investor sentiment stayed fragile following Israel’s pre-emptive strikes on Iran.
As of 1:35 PM, the BSE Sensex was down 587.09 points, or 0.72 per cent, at 81,104.88, while the NSE Nifty 50 fell 176.50 points, or 0.71 per cent, to 24,711.70. Both indices had opened significantly lower at 80,427.81 and 24,473.00, respectively, mirroring a global risk-off mood.
Geopolitical anxiety drove investors to safer assets. Gold futures in India surged 2 per cent to a record high of Rs. 1,00,403 per 10 grams, crossing the Rs. 1 lakh mark for the first time, buoyed by a weak rupee and strong global cues. International gold prices hovered near $2,420 per ounce, reflecting a sharp move into safe-haven assets. The Swiss franc also gained against major currencies.
Crude oil prices, which had jumped over 10 per cent in early Asian trading, stabilized slightly but remained elevated in the $76–$78 per barrel range amid supply concerns linked to the Middle East unrest.
Market breadth on the BSE remained weak, with 2,554 stocks declining against 1,273 advancing, while 147 were unchanged. Broader market indicators showed mixed sentiment — 64 stocks hit 52-week highs, while 51 touched 52-week lows. Circuit breakers were triggered on 163 stocks on the upside and 209 on the downside, underlining the day’s volatility.
Sector and Stock Highlights
Aviation stocks remained under pressure following the tragic Air India crash in Ahmedabad, which added to investor concerns. Boeing shares, impacted overseas, dropped 5 per cent in U.S. premarket trading.
On the NSE, Bharat Electronics Ltd (BEL) led the gainers with a 1.42 per cent rise to Rs. 392.90, followed by ONGC, which gained 1.40 per cent to Rs. 251.36. Tech Mahindra and Wipro showed resilience with gains of 1.33 per cent and 0.72 per cent, respectively. Apollo Hospitals also edged up 0.45 per cent to Rs. 7,028.00.
On the downside, Adani Ports fell 2.13 per cent to Rs. 1,408.10, leading the laggards. State Bank of India lost 1.69 per cent, followed by Adani Enterprises, Bajaj Finserv, and Shriram Finance, which each shed more than 1.5 per cent.
Sectorally, financials led the losses with the Nifty Bank index down 1.08 per cent and Nifty Financial Services lower by 1.15 per cent. The Nifty Next 50 declined 1.07 per cent, while the Nifty Midcap 100 fared slightly better, dipping only 0.57 per cent.
Foreign Flows and Policy Outlook
Foreign institutional investors (FIIs) continued to pull out funds from Indian equities, offloading over Rs. 3,500 crore so far in June, adding to pressure despite the Reserve Bank of India’s recent rate cut aimed at supporting domestic growth.
While the initial sell-off has eased, markets remain vulnerable to further geopolitical shocks. Analysts caution that sustained volatility in oil prices, continued FII outflows, and further escalation in the Middle East could keep risk sentiment subdued heading into next week.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
