The SENSEX Index Closes 2.28% Lower

India’s BSE Sensex lost further ground to close about 2.3% lower at 73,583 on Friday, reversing the gains of the past two sessions. Lingering uncertainty around the Iran conflict and elevated crude oil prices intensified foreign outflows despite US President Donald Trump halting strikes on Iran's energy sites until April 6. Meanwhile, Goldman Sachs lowered India’s GDP growth estimate for 2026 by 1.1 percentage points to 5.9% and raised its CPI forecast by 70 basis points, while also downgrading Indian equities from “overweight” to “market weight.” Most sectors saw selling pressure, with energy, airlines and financials experiencing the heaviest losses. Reliance Industries dropped 4.6% and IndiGo slipped 4.5%, directly reflecting the fuel cost pressure from elevated crude. Bucking the trend, defensive names like TCS (0.5%), Bharti Airtel (0.4%) and Power Grid (0.1%) posted slight gains. For the week, the index declined about 1.3%.

The SENSEX Index fell -1715 points or 2.28 percent on Friday to close at 73558 points. Leading the losses are Tata Motors (-4.89%), Reliance Industries (-4.64%) and Bajaj Finance (-4.11%).

India’s BSE Sensex fell about 1.3% to around 74,335 in early trade on Friday, reversing the gains of the past two sessions as losses in global markets and volatility in oil prices continued to weigh on sentiment amid the prolonged US-Iran conflict. US President Donald Trump announced a 10-day pause in U.S. strikes on Iran’s energy infrastructure, saying it was requested by Tehran to allow more time for diplomacy, extending the pause until April 6. However, Iran denied the claim and has publicly dismissed US proposals, leaving the status of talks unclear. Trading was mostly weak across sectors, led by financials, energy, and consumer stocks, with only technology and miscellaneous posting modest gains. Among the early laggards were HDFC Bank (-2.1%), Shriram Finance (-3.7%), Reliance Industries (-2.4%), and Bajaj Auto (-1.2%). The index fell 0.2% for the week, with its month-to-date loss at 8.5% so far.