Indian equity indices Sensex and Nifty fell over 1% as crude prices soared and IT stocks slumped. Persistent foreign fund outflows and geopolitical tensions, especially in the Strait of Hormuz, added to investor concerns. Significant declines in major stocks like Infosys marked the trading impact.

Market Meltdown: Sensex and Nifty Plunge Amid Geopolitical Turmoil

Indian equity markets took a significant hit on Friday, as benchmark indices Sensex and Nifty dropped over 1% in value. This marks the third consecutive day of losses, triggered primarily by soaring crude prices and a slump in IT stocks.

Investors' sentiment was further dampened by persistent foreign fund outflows and heightened geopolitical tensions, notably the prolonged conflict resulting in disruptions in the Strait of Hormuz. On the session close, Sensex tumbled 999.79 points, settling at 76,664.21, while Nifty slumped 275.10 points, ending at 23,897.95.

IT sector heavyweight Infosys reported a substantial 7.09% decline due to lower-than-expected FY27 revenue forecasts. Other major players also felt the pressure, with HCL Tech, TCS, and Tech Mahindra among the laggards. Despite this downturn, select stocks like Trent and Bajaj Finance offered some relief, finishing in positive territory. Overall, Indian markets remained volatile with little sign of de-escalation in geopolitical conflicts affecting global markets.

(With inputs from agencies.)