- Indian equities opened sharply lower tracking weak global cues.
- Global markets fell, Wall Street led technology stocks lower.
- Crude oil surpassed $100 amid rising West Asia tensions.
Indian equity benchmarks opened sharply lower on Friday, tracking weak global cues after Wall Street posted steep losses overnight and rising geopolitical tensions in West Asia pushed crude oil prices above the $100-a-barrel mark.
The BSE Sensex stood under 75,750, bleeding close to 650 points, while the NSE Nifty50 opened trading around 23,700, crashing more than 150 points, as of 9:15 AM.
GIFT Nifty Signals Weak Opening
The weak opening on Dalal Street came after GIFT Nifty indicated a gap-down start for benchmark indices.
The futures contract was quoted at 23,658, down 216 points, reflecting negative sentiment ahead of the opening bell as investors reacted to rising geopolitical risks and higher energy prices.
At around 9:05 AM, the Sensex was trading at 75,754.06, down 637.33 points or 0.83 per cent, while the Nifty slipped 186.70 points, or 0.78 per cent, to 23,682.90.
Investor sentiment remained subdued as higher crude oil prices, escalating tensions in West Asia and a broad sell-off across global markets weighed on risk appetite.
Asian Markets Tumble After Wall Street Sell-Off
Asian equities traded sharply lower in early Friday deals, mirroring overnight losses on Wall Street.
Japan’s Nikkei 225 declined 2.8 per cent, while South Korea’s Kospi fell 2.9 per cent in early trading as investors turned risk-averse.
The weakness followed a broad decline in US markets, where technology heavyweights came under pressure.
Overnight, the Nasdaq Composite dropped 2.15 per cent, dragged lower by losses in Alphabet and Tesla. The Dow Jones Industrial Average ended 0.97 per cent lower, while the S&P 500 lost 1.21 per cent.
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Crude Oil Climbs Above $100
Crude oil prices remained a major focus after crossing the $100-per-barrel mark for the first time since May.
The surge came amid escalating tensions in West Asia following reports that two Saudi oil tankers were stranded in the Red Sea, raising fresh concerns over global supply disruptions.
The July Brent crude futures contract was quoted at $100.03 per barrel on the Intercontinental Exchange, although it later eased 0.66 per cent in trading.
Higher crude prices are closely monitored by Indian investors as they can influence inflation, corporate margins and the country’s import bill.
Gold And Silver Trade Higher
Precious metals edged higher in early trade as investors sought safer assets amid heightened geopolitical uncertainty.
Gold futures were trading 0.03 per cent higher, while silver futures gained 0.09 per cent.
Rupee Opens Weaker
The Indian rupee weakened against the US dollar at the opening bell.
The domestic currency opened at 96.67 per US dollar, down 10 paise from Thursday’s closing level of 96.57, reflecting pressure from stronger global risk aversion and elevated crude oil prices.
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