Dalal Street bleeds as Sensex sinks 1,380 pts; Nifty below 23,150

Stock Market Highlights: Indian equity benchmarks traded sharply lower on Friday, extending losses for a third straight session as risk aversion intensified amid rising geopolitical tensions in West Asia and a surge in crude oil prices.

The BSE Sensex and Nifty 50 slipped deeper into the red during the session, dragged down by heavy selling in metals, auto and banking stocks. Market breadth remained firmly negative, with declines significantly outpacing advances across the broader market.

Among the notable laggards on the Nifty were Larsen & Toubro, Hindalco, Tata Steel, UltraTech Cement and Tata Motors, reflecting persistent pressure on cyclicals and infrastructure-linked names. Broader markets also remained under strain, with midcap and smallcap indices underperforming the benchmarks.

Investor sentiment remained fragile as Brent crude prices climbed above the $100 per barrel mark, raising concerns about inflationary pressures and the impact on India’s macroeconomic outlook.

Meanwhile, stock-specific developments kept select counters in focus, including PG Electroplast and Balaji Amines, even as the broader trend on Dalal Street remained decisively weak.