Indian equity markets extended losses in late afternoon session amid escalating tensions in West Asia. Investors stayed away from risky bets after US President Donald Trump gave a 48-hour ultimatum to Iran to open the ‘Strait of Hormuz’ or US would hit the Iranian power plants. Besides, the Finance Ministry’s Monthly Economic Review for March sparked caution among market participants. The Monthly Economic Review said that the near-term outlook remains uncertain, with external shocks particularly the West Asia crisis posing downside risks to growth through elevated input costs and potential supply disruptions. Further, persistent foreign capital outflows have weighed on trading sentiments. The foreign institutional investors have sold securities worth Rs 4,367.30 crore on Friday’s session.
On the global front, Asian equity markets were trading mostly in red as rising energy risks amid escalating US-Iran tensions rattled investors. European equity markets were trading higher ahead of economic sentiment survey results from the euro area and flash inflation data from Germany due later in the day.
The BSE Sensex is currently trading at 72046.68, down by 1536.54 points or 2.09% after trading in a range of 72031.99 and 73165.32. There were 2 stocks advancing against 28 stocks declining on the index.
The only gaining sectoral indices on the BSE were Energy up by 0.24% and Oil & Gas up by 0.06%, while Bankex down by 3.46%, Realty down by 2.77%, Telecom down by 2.70%, Industrials down by 2.39%, TECK down by 2.28% were the top losing indices on BSE.
The only gainers on the Sensex were Power Grid Corporation up by 0.39% and Reliance Industries up by 0.03%. On the flip side, Bajaj Finance down by 4.68%, Axis Bank down by 3.56%, Bajaj Finserv down by 3.45%, SBI down by 3.44% and HDFC Bank down by 3.26% were the top losers.
Meanwhile, if the ongoing West Asia crisis continues, the government is reportedly to introduce additional relief measures for vulnerable segments of the country, including for MSMEs, with an aim to protect the economy from rising costs and potential disruptions.
A slew of measures like excise duty cuts on fuel have already announced by the government amid a sharp spike in global crude oil prices triggered by the ongoing geopolitical conflict in the West Asia. The Finance ministry had cut excise duty on petrol to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel has been slashed to nil from Rs 10 earlier, offering relief to oil marketing companies (OMCs).
Apart from this, the government of India had restored full benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to exporters till March 31. The Directorate General of Foreign Trade (DGFT) in a notification informed that RoDTEP rates and value caps have been restored with effect from February 23, 2026, to March 31, 2026, for all eligible export products. Besides, the RELIEF (Resilience & Logistics Intervention for Export Facilitation) scheme with an outlay of Rs 497 crore has been rolled out by the government.
The CNX Nifty is currently trading at 22362.50, down by 457.10 points or 2.00% after trading in a range of 22359.55 and 22714.10. There were 4 stocks advancing against 46 stocks declining on the index.
The top gainers on Nifty were Coal India up by 2.27%, Hindalco up by 2.14%, ONGC up by 1.24% and Power Grid Corporation up by 0.17%. On the flip side, Bajaj Finance down by 4.77%, Axis Bank down by 3.58%, JIO Financial Services down by 3.55%, Adani Enterprises down by 3.46% and Bajaj Finserv down by 3.46% were the top losers.
Asian equity markets were trading mostly in red; Nikkei 225 slipped 1677.07 points or 3.24% to 51,696.00, Taiwan Weighted lost 594.43 points or 1.83% to 32,518.16, Hang Seng declined 202.88 points or 0.82% to 24,749.00, KOSPI dropped 161.57 points or 3.06% to 5,277.30, Jakarta Composite plunged 6.68 points or 0.09% to 7,090.38 and Straits Times fell 4.21 points or 0.09% to 4,893.97, while Shanghai Composite strengthened 9.57 points or 0.24% to 3,923.29.
European equity markets were trading higher; UK’s FTSE 100 increased 76.57 points or 0.77% to 10,043.92, France’s CAC rose 25.85 points or 0.34% to 7,727.80 and Germany’s DAX gained 43.35 points or 0.19% to 22,344.10.
