India’s BSE Sensex extended losses on Friday, closing down about 1.4% at 78,919, giving back most of the prior session’s rebound. Sentiment remained under pressure amid persistent foreign fund outflows and mounting global economic worries tied to the escalating crisis in the Middle East. The conflict has intensified fears of a broader energy supply shock, driving crude prices higher, rekindling inflationary pressures, and casting a shadow over the global growth outlook.
Among major laggards were lenders ICICI Bank and Axis Bank, while defense contractor Bharat Electronics advanced 1.8%, making it the session’s top gainer. Reliance Industries rose around 1.1% after reports suggested that access to discounted Russian crude may lower its feedstock costs and potentially bolster refining margins. Over the week, the Sensex declined 2.9%.
