<p>Mumbai: Equity benchmark indices Sensex and Nifty declined sharply on Friday due to selling in Axis Bank and growing tensions along the Indo-Pak border following the terror attack at Pahalgam in Jammu & Kashmir.</p><p>Wiping out all early gains, the 30-share BSE barometer tanked 588.90 points or 0.74 per cent to settle at 79,212.53. During the day, it dropped 1,195.62 points or 1.49 per cent to 78,605.81.</p><p>Falling for the second day, the NSE Nifty tumbled 207.35 points or 0.86 per cent to 24,039.35.</p>.Sensex tanks 1,000 points; Nifty drops below 24,000-level.<p>Experts said worries over growing geopolitical tensions after Tuesday's Pahalgam terror attack weighed on market sentiment.</p><p>"Investor sentiment turned cautious amid escalating tensions along the Indo-Pak border. Mid and smallcap stocks bore the brunt of the sell-off, driven by their elevated valuations and growing concerns over potential earnings downgrades following a muted start to the earnings season," Vinod Nair, Head of Research, Geojit Investments Limited, said.</p><p>Among Sensex shares, Adani Ports, Axis Bank, Eternal, Bajaj Finserv, Power Grid, Maruti, Bajaj Finance, Tata Motors, Tata Steel and NTPC were the biggest laggards.</p><p>Axis Bank declined over 3 per cent after the country's third largest private sector lender reported a sharp rise in loan loss provisions and a steep fall in the trading income for the last quarter of 2024-25. The bank's profit declined marginally in the March quarter to Rs 7,117 crore, from Rs 7,130 crore in the year-ago period.</p><p>However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.</p><p>Despite Nifty opening at a higher level on Friday, geopolitical tensions with the neighbouring nation have led to the drop in the index, Ajay Garg, CEO, SMC Global Securities, said.</p><p>"In the last few days, Nifty has also revived to 24,000 points with FII buying, banking stocks rally, and expectations of a positive outcome from the US-India trade talks. Along with the geopolitical tensions, profit-booking by investors also added to today’s market drop," Garg added.</p><p>In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225 and Hong Kong's Hang Seng settled in the positive territory. Shanghai SSE Composite ended marginally lower.</p><p>Markets in Europe were trading higher.</p><p>US markets ended significantly higher on Thursday. Nasdaq Composite jumped 2.74 per cent, S&P 500 surged 2.03 per cent and Dow Jones Industrial Average climbed 1.23 per cent.</p><p>Foreign Institutional Investors (FIIs) bought equities worth Rs 8,250.53 crore on Thursday, according to exchange data.</p><p>Global oil benchmark Brent crude declined 0.50 per cent to USD 66.24 a barrel.</p><p>On Thursday, the 30-share BSE benchmark Sensex declined 315.06 points or 0.39 per cent to settle at 79,801.43 on Thursday. The Nifty went down by 82.25 points or 0.34 per cent to 24,246.70.</p>
<p>Mumbai: Equity benchmark indices Sensex and Nifty declined sharply on Friday due to selling in Axis Bank and growing tensions along the Indo-Pak border following the terror attack at Pahalgam in Jammu & Kashmir.</p><p>Wiping out all early gains, the 30-share BSE barometer tanked 588.90 points or 0.74 per cent to settle at 79,212.53. During the day, it dropped 1,195.62 points or 1.49 per cent to 78,605.81.</p><p>Falling for the second day, the NSE Nifty tumbled 207.35 points or 0.86 per cent to 24,039.35.</p>.Sensex tanks 1,000 points; Nifty drops below 24,000-level.<p>Experts said worries over growing geopolitical tensions after Tuesday's Pahalgam terror attack weighed on market sentiment.</p><p>"Investor sentiment turned cautious amid escalating tensions along the Indo-Pak border. Mid and smallcap stocks bore the brunt of the sell-off, driven by their elevated valuations and growing concerns over potential earnings downgrades following a muted start to the earnings season," Vinod Nair, Head of Research, Geojit Investments Limited, said.</p><p>Among Sensex shares, Adani Ports, Axis Bank, Eternal, Bajaj Finserv, Power Grid, Maruti, Bajaj Finance, Tata Motors, Tata Steel and NTPC were the biggest laggards.</p><p>Axis Bank declined over 3 per cent after the country's third largest private sector lender reported a sharp rise in loan loss provisions and a steep fall in the trading income for the last quarter of 2024-25. The bank's profit declined marginally in the March quarter to Rs 7,117 crore, from Rs 7,130 crore in the year-ago period.</p><p>However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.</p><p>Despite Nifty opening at a higher level on Friday, geopolitical tensions with the neighbouring nation have led to the drop in the index, Ajay Garg, CEO, SMC Global Securities, said.</p><p>"In the last few days, Nifty has also revived to 24,000 points with FII buying, banking stocks rally, and expectations of a positive outcome from the US-India trade talks. Along with the geopolitical tensions, profit-booking by investors also added to today’s market drop," Garg added.</p><p>In Asian markets, South Korea's Kospi index, Tokyo's Nikkei 225 and Hong Kong's Hang Seng settled in the positive territory. Shanghai SSE Composite ended marginally lower.</p><p>Markets in Europe were trading higher.</p><p>US markets ended significantly higher on Thursday. Nasdaq Composite jumped 2.74 per cent, S&P 500 surged 2.03 per cent and Dow Jones Industrial Average climbed 1.23 per cent.</p><p>Foreign Institutional Investors (FIIs) bought equities worth Rs 8,250.53 crore on Thursday, according to exchange data.</p><p>Global oil benchmark Brent crude declined 0.50 per cent to USD 66.24 a barrel.</p><p>On Thursday, the 30-share BSE benchmark Sensex declined 315.06 points or 0.39 per cent to settle at 79,801.43 on Thursday. The Nifty went down by 82.25 points or 0.34 per cent to 24,246.70.</p>