Sensex ends 332 points lower, Nifty below 23,800; Eternal down 2%

The BSE Sensex fell 331.62 points, or 0.43%, to close at 76,059.77, while the NSE Nifty50 declined 102.15 points, or 0.43%, to settle at 23,767.45.Realty, auto, metal sectors dragged markets lower; volatility remained high. Benchmark stock market indices ended lower on Friday, extending their losing streak to a fifth consecutive session, as investors remained cautious over the escalating Middle East conflict and its impact on global oil prices. However, markets recovered sharply from the day's lows after crude prices retreated from above the $100-a-barrel mark.The BSE Sensex fell 331.62 points, or 0.43%, to close at 76,059.77, while the NSE Nifty50 declined 102.15 points, or 0.43%, to settle at 23,767.45.Brent crude, which briefly crossed the psychologically important $100-a-barrel mark during the day, eased nearly 3% to $97.71 per barrel by the close. WTI crude also declined 2.68% to $89.72, helping markets recover from steeper intraday losses.CRUDE OIL, GLOBAL UNCERTAINTY KEEP SENTIMENT WEAKInvestor sentiment remained fragile as geopolitical tensions in the Middle East continued to dominate market sentiment.Higher crude oil prices remain a key concern for India, the world's third-largest crude importer, as they can fuel inflation, widen the current account deficit and squeeze corporate profit margins.Vinod Nair, Head of Research at Geojit Investments Limited, said elevated oil prices and rising global bond yields continue to cloud the market outlook."Market sentiment is likely to remain under pressure in the near term, as sustained oil prices in a higher range could begin to adversely impact key macroeconomic indicators and growth dynamics. The US 10-year yield has climbed to a 52-week high despite crude oil trading well below its crisis-era peak, reflecting the bond market's concerns over energy-led inflation risks, resilient labour market conditions, and a persistently hawkish Fed," he said.Nair added that these factors have increased expectations of another US rate hike, while fresh US tariffs have also hurt export-driven economies."Washington's new tariffs on imports added another headwind for export-driven economies, with technology-heavy markets having been hit the most as higher rates weigh on growth and investors are increasingly seeking to diversify their concentrated exposure to other emerging market opportunities," he said.IT RECOVERS, BANKS OUTPERFORMDespite the weak market, the Nifty IT index rose 0.82%, emerging as one of the best-performing sectoral indices after recovering from early losses.Media stocks also gained 1.86%, while the Nifty MidSmall IT & Telecom index climbed 1.11%. The Nifty PSU Bank index advanced 0.58%, supported by buying in banking stocks.Among Sensex constituents, HCLTech led the gainers with a 1.94% rise, followed by ITC, Axis Bank, TCS, Trent, Maruti Suzuki, Kotak Mahindra Bank, SBI and Reliance Industries.Nair said Bank Nifty continued to outperform on improving fundamentals."Bank Nifty outperformed, supported by favourable valuations and credit growth outlooks," he said.REALTY, AUTO AND METAL DRAGSelling pressure, however, persisted across several other sectors.The Nifty Realty index was the worst performer, falling 1.53%, followed by Auto (-1.10%), Metal (-0.55%), Oil & Gas (-0.46%), Financial Services Ex-Bank (-0.41%) and Pharma (-0.41%).The broader market also remained weak. The Nifty Smallcap 100 declined 0.32%, while the Nifty 100, Nifty 200 and Nifty 500 also ended in the red. The Nifty Midcap 50 was the only broader index to buck the trend, edging up 0.11%.India VIX rose 4.11% to 14.03, indicating that volatility remained elevated despite the recovery in benchmark indices.Among the biggest losers on the Sensex were Eternal, Bajaj Finance, Mahindra & Mahindra, Bharti Airtel, Asian Paints and Infosys.Although Dalal Street recovered substantially from its intraday lows as crude oil prices cooled, investor sentiment is likely to remain cautious in the near term as markets continue to monitor developments in the Middle East, oil prices and global interest rate expectations.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsPublished On: Jul 24, 2026 15:35 IST