Mumbai, April 25 – Local stock markets extended their decline for the second consecutive day on Friday, as heavy selling in Axis Bank and rising tensions along the India-Pakistan border weighed on investor sentiment. Both the Sensex and the Nifty closed sharply lower, reflecting heightened caution across sectors.
The 30-share BSE benchmark Sensex, which initially showed some early gains, reversed course and closed down by 588.90 points, or 0.74 percent, at 79,212.53. During the session, it had tumbled as much as 1,195.62 points to touch an intraday low of 78,605.81. Similarly, the NSE Nifty continued its downward trajectory for a second day, falling 207.35 points, or 0.86 percent, to close at 24,039.35.
As per agency report, Vinod Nair, Head of Research at Geojit Investment Services, noted that escalating border tensions between India and Pakistan had prompted investors to adopt a cautious stance. Combined with high valuations and a sluggish start to the corporate earnings season, selling pressure intensified, particularly in mid-cap and small-cap stocks.
Among the Sensex constituents, significant losses were seen in Adani Ports, Axis Bank, Zomato (listed as Eternal), Bajaj Finserv, Power Grid, Maruti Suzuki, Bajaj Finance, Tata Motors, Tata Steel, and NTPC. On the other hand, gains were recorded in shares of Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever, and ICICI Bank, helping to limit broader market losses.
Ajay Garg, CEO of SMC Global Securities, commented that despite Nifty opening at higher levels, the mounting tensions with Pakistan contributed to a pullback. He added that geopolitical concerns coupled with profit-booking activity among investors amplified the decline.
Elsewhere in Asia, markets in South Korea (Kospi), Japan (Nikkei), and Hong Kong (Hang Seng) closed higher, while China’s Shanghai Composite ended slightly lower. European markets were trading positively during the afternoon session, and U.S. markets had closed on a strong note the previous day.
According to stock exchange data, Foreign Institutional Investors (FIIs) remained net buyers, having purchased shares worth ₹8,250.53 crore on Thursday. Meanwhile, global oil benchmark Brent crude declined by 0.50 percent to settle at $66.24 per barrel, reflecting easing concerns over energy prices.
