Geopolitical tensions drag sensex 961 pts
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Geopolitical tensions drag sensex 961 pts

MUMBAI: Across the board selling pulled the sensex down by 961 points (1.2%) on Friday, and the 30-share index closed at 81,287 points with banks leading the slide. Tariff uncertainty, foreign fund selling and no visible progress in Iran-US talks left investors jittery and pressing the sell button ahead of the weekend.Foreign funds led the selling with a Rs 7,536 crore net outflow for the day. Combined with Thursdayโ€™s Rs 2,429 crore net selling, the aggregate in just two sessions is close to Rs 10,000 crore.On NSE, Nifty lost 318 points or 1.3% to close at 25,179 points. The dayโ€™s slide in the market left investors poorer by Rs 5 lakh crore with BSEโ€™s market capitalisation now at 463.5 lakh crore.According to Ajit Mishra, SVPโ€”Research, Religare Broking, in Fridayโ€™s market, selling was largely broad-based across sectors. โ€œInvestor sentiment weakened due to a combination of factors including inconsistent foreign flows, weak global cues and lingering geopolitical tensions. In addition, the underperformance of select heavyweights across sectors further intensified the decline.โ€ Among the 30 sensex constituents, 25 closed in the red. ICICI Bank, HDFC Bank and Bharti Airtel contributed the most to the dayโ€™s slide in the index.In the broader market, the advance-decline ratio was not as skewed as in sensex. Compared to 2,633 stocks that declined, there were 1,574 that advanced, BSE data showed.Wall St declinesWall Streetโ€™s main indices dropped on Friday as AI anxiety hammered technology stocks. The Dow Jones Industrial Average fell 602 points, or 1.2%, to 48,897, S& lost 46 points, or 0.7%, to 6,863, and Nasdaq Composite was down 226.6 points, or 1%, to 22,652.

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