Mumbai, India — March 6, 2026
Indian equity benchmarks ended sharply lower on Friday, erasing Thursday’s relief rally as escalating US-Iran geopolitical tensions drove global oil prices higher and dented investor sentiment.
The BSE Sensex plunged 1,097.78 points or 1.37% to close at 78,918.90, after hitting an intraday low of 78,812.18 (down 1,203.72 points or 1.50%). The NSE Nifty 50 settled 315.45 points or 1.27% lower at 24,450.45.
Banking and financial heavyweights led the decline, with major losers including ICICI Bank, Axis Bank, HDFC Bank, Bajaj Finserv, State Bank of India, Larsen & Toubro, and Ultratech Cement. On the flip side, Reliance Industries, Sun Pharma, NTPC, Infosys, HCL Tech, and Bharat Electronics posted gains.
Brent crude jumped 2.53% to $87.57 per barrel amid fears of supply disruptions from the Middle East. Analysts noted that sustained oil price escalation could worsen India’s twin deficits, fuel inflation, and limit the RBI’s policy flexibility.
Foreign institutional investors (FIIs) sold shares worth ₹3,752.52 crore on Thursday, while domestic institutional investors (DIIs) bought ₹5,153.37 crore.
Globally, Asian markets closed mixed to positive (Kospi, Nikkei 225, Shanghai Composite, Hang Seng up), while European indices traded lower and US markets ended in the red on Thursday.
The sharp reversal comes after Thursday’s strong rebound, when Sensex rose 899.71 points (1.14%) and Nifty climbed 285.40 points (1.17%), snapping multi-day losing streaks.
