Sensex, Nifty open lower amid geopolitical tensions

Stock markets continued their downward decline on Friday, falling around half a percent amid the escalating geopolitical tensions. Tensions between Israel and Iran have increased in the past few weeks, which has kept global markets on edge. Following reports of an explosion in Iran, Asian markets also saw significant losses.

Market opening

At 10am on Friday, Sensex lost 0.52% or 379 points to trade at 72,109 and the Nifty was 0.44% or 97 points lower at 21,898. The fall in shares of Infosys Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. pressured the indices further. All the Nifty IT stocks declined on Friday.

As per Fars News agency, early morning on Friday explosion was heard in Iran's Isfahan city, which is one of the launch site for the missile and drone attack on Israel by Iran. Following this the US equity futures fell in early Asian trading while the oil prices resumed a selloff and investors retreated to the dollar.

On Thursday, the markets extended losses for the fourth straight session with Sensex tanking 454.69 points or 0.62% to settle at 72,488.99 while Nifty plunged 152.05 points or 0.69% to 21,995.85.

Also watch: Sensex and Nifty extend losing streak to fourth straight session amidst volatility and FII exodus