FX.co ★ BSE Sensex Extends Losses Amid Middle East Conflict and Oil Price Surge

The BSE Sensex declined by 573 points, equivalent to a 0.7% drop, finishing at 81,119 on Friday. This marks the second consecutive session of losses for the index. Investor sentiment was adversely affected by increasing geopolitical tensions following Israel's overnight strike on Iran, coupled with a rise in international crude oil prices, which could potentially elevate India's import expenses. Israel targeted Iran’s nuclear sites and military leaders, asserting the operation was crucial to counter what it perceives as an existential threat. In response, Iran retaliated with hundreds of drones, intensifying concerns of further conflict. Among the Sensex constituents, 10 out of 30 stocks ended the day lower, with Adani Ports, ITC, State Bank of India, IndusInd Bank, and Hindalco Industries experiencing declines between 1.4% and 2.7%. On the other hand, Bharat Electronics (BEL), ONGC, HAL, Tech Mahindra, and TCS emerged as the top gainers, with increases ranging from 1% to 1.8%.