Equity benchmarks Sensex and Nifty opened in the red on Friday amid broad-based selling pressure in banking, IT, metal, realty, and capital goods stocks.
The BSE Sensex opened 550 points or 0.72 per cent lower at 75,487.34, while the Nifty 50 declined 156 points or 0.66 per cent to 23,483.15 in early trade. Both indices extended losses from Thursday’s close.
Banking majors were among the biggest losers, with HDFC Bank falling around 1.6 per cent, while ICICI Bank, SBI, and Kotak Mahindra Bank also declined sharply. IT stocks extended their weakness, with Infosys, HCLTech, Tech Mahindra, and Tata Consultancy Services slipping between 0.6 per cent and 1.1 per cent.
The real estate sector, along with metal and capital goods stocks, incurred heavy losses. L&T declined nearly 1.6 per cent, while auto giant M&M fell almost 2 per cent.
Only energy stocks traded positively amid the ongoing energy crisis in India, triggered by the war in West Asia.
Power Grid Corporation of India, NTPC, and Reliance Industries remained in the green in early trade.
Top gainers included Coal India, Power Grid Corporation of India, and Bajaj Finance, though advances remained limited.
The Middle East crisis and partial closure of the Strait of Hormuz have triggered severe energy shortages in Asian countries, particularly India, Japan, and South Korea, which rely heavily on imported crude oil and LNG supplies from Gulf nations.
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