Indian equity benchmark -- Nifty ended lower with cut of over a percent on Friday amid West Asia Jitters. Index made a cautious start following mixed cues from other Asian markets, as intensified geopolitical tension in West Asia (US-Iran conflict) leading to a spike in crude oil prices. Soon, index extended its losses on account of hectic selling in IT and Teck stocks. Besides, foreign fund outflow dampened investors sentiments. As per exchange data, foreign institutional investors sold equities worth Rs 3,254.71 crore on April 23, 2026. In second half of the session, index continued its lacklustre trade in southward direction till the end of the session. Sentiments were downbeat with Engineering Export Promotion Council India’s (EEPC India) latest data showing that India’s engineering exports to the UAE (the second-largest market) and Saudi Arabia (the fourth-largest market) fell sharply in March 2026 as ongoing West Asia conflict has severely disrupted global shipping, particularly through the Strait of Hormuz. Finally, Nifty ended below 23,900 mark.
