Stock Market Today: Sensex Drops 450 Points, Nifty At 24,100 Amid Escalating Indo-Pak Tensions

Stock Market Today: Despite positive global cues, Indian markets opened weak on Friday, with the Nifty slipping below the 24,000 mark amid rising tensions between India and Pakistan. The Sensex dropped 495.69 points, or 0.62 per cent, to 79,839.12, while the Nifty fell 186.30 points, or 0.77 per cent, to 24,087.50. Market breadth was negative, with 327 stocks advancing, 2,014 declining, and 71 remaining unchanged.

The top gainers on the Nifty included Titan Company, L&T, Bharat Electronics, and Dr. Reddy's Labs. On the losing side were Power Grid Corp, Adani Ports, Eternal, Adani Enterprises, and Asian Paints.

Meanwhile, overnight, multiple locations in Jammu & Kashmir, Punjab, and Rajasthan, including Jammu Airport (which also houses an Indian Air Force base) and the Pathankot Airbase, came under attack following heavy artillery shelling and drone strikes by Pakistan, including the use of loitering munitions.

The escalating geopolitical tensions have rattled investor sentiment, driving a surge in market volatility. The India VIX, a key gauge of market volatility, spiked 7 per cent to 22.65, reflecting heightened anxiety.

Broader Market Update

Broader markets bore the brunt of the sell-off, with the Nifty Midcap 100 and Nifty Smallcap 100 indices tumbling as much as 2 per cent. All sectoral indices slipped into the red, led by sharp declines in Nifty Metal, Realty, and Banking, each dropping close to 1 per cent.

Global Market Update

US stocks advanced on Thursday as investors welcomed a newly finalized trade agreement between the United States and the United Kingdom. Sentiment was further boosted after President Donald Trump hinted that upcoming negotiations with China could be more meaningful than expected.

The Dow Jones Industrial Average rose 0.62 per cent, the S&P 500 added 0.58 per cent, and the Nasdaq Composite climbed 1.07 per cent.

Asian markets edged higher on Friday, buoyed by optimism after the US-UK deal and Trump's remarks suggesting potential tariff reductions on Chinese goods if future talks proceed positively.

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