Markets Tumble: Sensex Sheds 573 Points, Nifty Slips Below 24,800; Adani Ports Drops 3%

Markets End Lower as Geopolitical Tensions Weigh; Sensex Falls 573 Points, Nifty Below 24,720

Benchmark indices closed half a percent lower on Friday as escalating geopolitical tensions in the Middle East rattled investor sentiment and triggered broad-based selling on Dalal Street.

The BSE Sensex declined 573.38 points to settle at 81,118.60, while the NSE Nifty50 dropped 169.60 points, closing at 24,718.60.

According to Vinod Nair, Head of Research at Geojit Financial Services, weak global cues and continued foreign institutional outflows put pressure on Indian equities.

“Market sentiment took a hit following Israel’s military strike on Iran, increasing global risk aversion and pushing investors toward safer assets,” he said.

Broader Market and Sectoral Snapshot
The broader markets followed suit, with the Nifty Midcap 100 down 0.37% and the Nifty Smallcap 100 lower by 0.49%. Meanwhile, the India VIX — a gauge of market volatility — spiked 7.59%, reflecting nervousness among traders.

Only a few sectors managed to eke out gains:

Nifty Consumer Durables rose 0.70%

Nifty Auto added 0.30%

Nifty Media gained 0.17%

Nifty Realty, Healthcare, and IT posted marginal gains

On the flip side, heavy selling was seen in:

Nifty PSU Bank (−1.18%)

FMCG (−1.05%)

Private Bank (−0.91%)

Financial Services, Oil & Gas, Metal, and Pharma indices

Stock Movers
Tech Mahindra led the gainers on the Sensex, rising 1.02%, followed by TCS (+0.36%), Sun Pharma (+0.23%), and Maruti Suzuki (+0.16%). Only four Sensex constituents closed in the green.

Adani Ports was the session’s biggest laggard, plunging 2.61%. Other major losers included ITC (−1.67%), IndusInd Bank (−1.52%), HDFC Bank (−1.15%), and Titan Company (−0.95%).

Macro Outlook
Although May’s inflation data came in below the RBI’s comfort level, easing some macro concerns, the optimism was overshadowed by fears of prolonged geopolitical instability.