Geopolitical Tensions Shake Indian Markets: Sensex and Nifty Slide
The escalation of tensions between India and Pakistan led to a downturn in Indian stock markets, with Sensex and Nifty closing in red. Erosion in investor confidence was marked by major losses in automotive, healthcare, metals, and realty sectors, though some resilience was seen in media and IT sectors.
- Country:
- India
The Indian stock markets remained flat during Thursday's morning session but began to decline following reports of escalating tensions between India and Pakistan. Both the Sensex and Nifty indexes ended the day in the red, revealing shaken investor confidence.
By the end of the trading session, the Sensex had fallen by 411.97 points, a decline of 0.51 percent, closing at 80,334.81. The Nifty at the National Stock Exchange (NSE) also dropped by 140.60 points or 0.58 percent to close at 24,273.80. Among the stocks with notable losses were Shriram Finance, Eternal, and M&M, while HCL Technologies and Axis Bank were among the gainers.
Experts attribute the downturn to increased geopolitical tensions on the India-Pakistan border, spurring cautious investor sentiment. However, analysts note that the markets showed some resilience due to India's successful free trade agreements with countries like the UK, along with no immediate pressure from the US Fed on India's monetary policy.
(With inputs from agencies.)
Google News