Indian equity markets opened in the red on Friday amid escalating concerns over developments in West Asia. The BSE Sensex crashed over 500 points, while the broader Nifty 50 also opened negative in early trade.
The Bank Nifty index gained 0.13 per cent, but broader markets showed mixed performance, with the Nifty Smallcap 100 and Nifty Midcap 100 rising 0.1 per cent each.
Among the top losers were the Nifty IT, Nifty Pharma, Nifty Media, and Nifty Metals. While Nifty Realty, Nifty PSU Bank, Nifty FMCG, and Nifty Auto were the top gainers in early trade..
Infosys shares declined over 3 per cent after the IT major announced its Q4 results. The stock fell as much as 3.52 per cent to Rs 1,198.80 apiece on the BSE.
Asian markets witnessed muted or mixed openings, while US stocks traded lower, with Wall Street benchmark indices retreating from record highs. This comes a day after US President Donald Trump announced that Israel and Lebanon have agreed to extend the ceasefire for approximately three more weeks.
Trump also stated that the US maintains full control over its blockade measures against Iran, describing them as effective.
The ongoing hostilities between the United States and Iran have triggered caution among both foreign and domestic investors, who are approaching the market with restraint.
Billions of dollars have been wiped off stock markets in India, Japan, South Korea, Taiwan, and Australia due to the West Asia crisis.
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