Following the global sell-off, Indian equity markets, too, settled lower on Friday after US military killed Iran Revolutionary Guards' commander Qasem Soleimani in a surprise air-strike. The middle-east tensions sent Brent Crude Futures soaring, while market sentiment turned sour at D-Street.
Brent crude futures jumped nearly $3 on Friday after a US airstrike in Baghdad killed top Iranian and Iraqi military commanders, sparking concerns of disruption to Middle East oil supplies. At 3:10 pm, Brent Crude Futures were at $68.62 per barrel-mark, up 3.5 per cent.
The S&P BSE Sensex, which hit an intra-day low of 41,348.68, recovered slightly in the fag-end of the session and settled 162.03 points, or 0.39 per cent, lower at 41,464.61 level. 24 of the 30 constituents ending the day in the red. Oil-linked stocks, such as paints, aviation, oil-marketing companies (OMCs), and financial counters remained under pressure.
In the intra-day trade, Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL), for instance, declined 2.9 per cent each on the BSE. Reliance Industries, Indraprastha Gas Ltd (IGL), and Indian Oil Corporation (IOC), too, slumped up to 0.7 per cent.
On the NSE, the Nifty50 lost 58.40 points, or 0.48 per cent, to settle at 12,223.80-mark. Sectorally, Nifty PSU Bank index slipped the most, down 2 per cent at close. Besides, Nifty Bank, Auto, Private Bank indices slipped over 1 per cent. On the upside, Nifty IT index advanced 1.3 per cent on the back of a weaker rupee.
In the broader market, small-caps traded in the green territory, while mid-caps followed benchmarks. The S&P BSE mid-cap index was down 0.41 per cent, while the S&P BSE small-cap index was up 0.03 per cent at close.
However, despite a weak sentiment, Adani Green, IIFL Securities and FDC traded higher on Friday.
Shares of Adani Green Energy hit a new high of Rs 193, having been locked in the 5 per cent upper circuit for the fourth straight day on Friday on the BSE on strong financial performance. At 02:41 pm, Adani Green’s market cap was Rs 30,131 crore, making it the 95th company with the highest m-cap in India.
Besides, shares of IIFL Securities were locked in 5 per cent upper circuit for the third straight day at Rs 47.15 on the BSE on Friday after ace investor Rakesh Jhunjhunwala bought nearly one percentage point stake in the financial services firm via open market.
Meanwhile, FDC hit a 52-week high of Rs 222 on the BSE after rallying 5 per cent in intra-day trade today after the drug company received good manufacturing practice (GMP) certificate from UK drug regulator for its Goa plant. The stock closed 1.38 per cent higher at Rs 213.6.
A quick look at the global markets:
Heightened geo-political tensions between the US and Iran turned Asian markets negative. MSCI’s broadest index of Asia-Pacific shares outside Japan had touched its highest point since June 15, 2018, in early trade, lost 0.16 per cent at close.
China’s CSI300 index, one of the world’s best-performing indices last year, struggled to stay in positive territory but was last down about 0.2 per cent. Australian shares finished up 0.64 per cent, but off earlier highs.
In Europe, the pan-European STOXX 600 index was down 0.6 per cent at 1:30 pm, with all the major country indexes well in the red.