The benchmark indices Sensex and Nifty Friday wiped out all early gains, declining sharply. The 30-share BSE benchmark gauge tanked 1,,148.80 points to 78,652.63 in late morning trade. The NSE Nifty dropped 379.35 points to 23,867.35.
Experts that news agency PTI spoke to said that worries over the growing geopolitical tensions amid in and Kashmir’s Pahalgam weighed on market sentiment.
From the Sensex firms, Axis Bank declined 4.50 per cent after the country’s third largest private sector lender reported a marginal decline in March quarter profit to Rs 7,117 crore, from Rs 7,130 crore in the year-ago period.
Adani Ports, Bajaj Finserv, State Bank of India, Power Grid, Eternal, , NTPC, , & Mahindra and were also among the laggards.
However, and were trading higher.
“There are tailwinds and headwinds for the market now. A strong tailwind is the sustained FII buying which has touched a cumulative amount of Rs 29,513 crore during the last 7 days,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, told PTI.
He further added that another tailwind is US Treasury Secretary Scot Bessent’s remark that “India is expected to strike the first bilateral trade deal with the US. The potential headwind looming large on the horizon is the uncertainty regarding India’s response to the terror attack and its consequences,” Vijayakumar said.
On Thursday, the 30-share BSE benchmark declined 315.06 points or 0.39 per cent to settle at 79,801.43. The Nifty went down by 82.25 points or 0.34 per cent to 24,246.70.
