Domestic equity markets ended sharply lower on Thursday, as escalating geopolitical tensions triggered a broad-based sell-off across key sectors. Investors turned risk-averse, pulling back from equities and redirecting funds toward safe-haven assets such as gold and silver.
The BSE Sensex plunged 573 points, or 0.7%, to close at 81,119, while the broader Nifty-50 on the National Stock Exchange dropped 170 points, or 0.68%, ending the day at 24,719. Sectoral indices across the board reflected weakness, with heavyweights in banking, IT, and auto dragging the indices lower.
Market sentiment was further dampened by surging crude oil prices amid rising geopolitical uncertainties. In global commodities trade, Brent Crude spiked over 8.7% to $75.44 per barrel, while WTI Crude surged nearly 9% to $74.15 per barrel, raising concerns over inflation and potential disruptions in energy supplies.
Amid the market turbulence, Indian investors sought refuge in bullion. In the domestic market, 24-karat gold rose to ₹1,00,050 per 10 grams, reflecting renewed safe-haven demand. Silver (999 fine) also saw a significant uptick, trading at ₹1,06,720 per kilogram, when reports last came in.
Analysts attribute the volatility to heightened geopolitical risks and uncertainty over global economic stability, urging investors to remain cautious in the near term.
