Equity Markets Decline Amid Foreign Fund Outflows and Middle East Tensions
In Asian markets, Seoul, Tokyo, and Hong Kong were trading positively, while markets in mainland China remained closed for a holiday.
Foreign Institutional Investors (FIIs) sold equities worth ₹15,243.27 crore on Thursday, according to exchange data.
Equity benchmark indices fell in early trading on Friday, continuing the sharp decline from the previous day, driven by ongoing foreign fund outflows and escalating conflicts in the Middle East.
For the fifth consecutive day, the BSE Sensex dropped 354.67 points to reach 82,142.43. Meanwhile, the NSE Nifty declined by 114.1 points to settle at 25,136.
Among the 30 Sensex companies, major laggards included Bajaj Finance, Asian Paints, NTPC, UltraTech Cement, State Bank of India, and Bajaj Finserv. In contrast, HCL Technologies, IndusInd Bank, and Tata Consultancy Services were among the few gainers.
Foreign Institutional Investors (FIIs) sold equities worth ₹15,243.27 crore on Thursday, according to exchange data.
In Asian markets, Seoul, Tokyo, and Hong Kong were trading positively, while markets in mainland China remained closed for a holiday.
The US markets ended lower on Thursday.
According to experts, the last three days have seen significant FII selling, amounting to ₹30,614 crore in the cash market.
Moreover, they say that FIIs are shifting investments from expensive Indian stocks to cheaper options in Hong Kong, hoping that the monetary and fiscal measures by Chinese authorities will boost the Chinese economy and improve earnings for Chinese companies.
Global oil benchmark Brent crude slightly dipped by 0.06 percent to $77.57 a barrel.
The BSE benchmark had a rough day, tumbling 1,769.19 points or 2.10 percent on Thursday to close at 82,497.10.
During the session, it even fell by 1,832.27 points, or 2.17 percent, to 82,434.02.
The Nifty also faced a significant drop, slumping 546.80 points or 2.12 percent to 25,250.10.
