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Indian stocks fall for fourth straight session amid Middle East tensions
The Nifty 50 closed at 23,869, and all sector indices ended lower except the Nifty Auto index.
Indian equities extended their slide for a fourth consecutive session on Thursday, 23 July, as sentiment stayed fragile amid escalating hostilities in the Middle East and a rise in crude oil prices toward multi month highs, according to LiveMint Markets.
The Nifty 50 fell 0.5% to close at 23,869, after declining 0.8% the prior session, while the S&P BSE Sensex ended down 0.5% at 76,408 following an almost 1% drop on Wednesday.
Broader trading saw sharper weakness, with the Nifty Midcap 100 and Nifty Smallcap 100 indices both closing more than 1% lower, and sector performance remained broadly negative, led by declines of more than 1% in chemicals, realty, oil and gas, and PSU banks.
On the geopolitical front, the US launched missile strikes on Iran for the 12th night, with President Donald Trump warning Washington would target Iranian infrastructure including bridges and power plants each time Tehran attacks ships in the Strait of Hormuz, while diplomatic prospects remained uncertain after Trump said Washington had no interest in meeting with Iran.
Stock-specific moves included SRF, which dropped 8.5% to ₹2,622 after its June quarter performance failed to impress, and Adani Green Energy and IndusInd Bank, which fell 6.3% and 6% respectively following their Q1 results.
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