Geopolitical Tensions Roil Indian Markets as Sensex and Nifty Plunge

Indian stock indices Sensex and Nifty suffered sharp declines on Friday morning, primarily due to Axis Bank's slide and heightened geopolitical tensions following a terror attack in Jammu & Kashmir. Sensex fell by 1,004.04 points, while Nifty dropped 338.1 points. These factors overshadowed the positive impact of foreign investments and potential trade deals.

The Indian stock market witnessed significant turbulence as benchmark indices Sensex and Nifty recorded sharp declines on Friday morning. Market sentiment was dampened by a terror attack in Jammu & Kashmir and Axis Bank's marginal decline in quarterly profits.

The 30-share BSE Sensex fell by 1,004.04 points to 78,797.39, while the NSE Nifty dropped 338.1 points to 23,908.60. Axis Bank's underperformance, along with Adani Ports, Bajaj Finserv, and other major firms, contributed to the downturn.

Despite this, Foreign Institutional Investors (FIIs) exhibited strong buying activity, injecting Rs 29,513 crore over the past week. Experts suggest that geopolitical uncertainties and potential new trade deals with the US could induce further market volatility.

(With inputs from agencies.)