BSE Sensex plunged 696.56 points to 73,199.18, and NSE Nifty50 slipped 224.05 points to 22,915.90, a 0.94% and 0.97% tumble respectively—an early trade that snapped a 7‑day losing streak.
Seven consecutive red days have pushed the indices down nearly 6% from the start of the week, a pattern that has rattled traders after a brief rally last month.
Brent crude futures edged 1.5% higher, trading near $106 a barrel, as the Strait of Hormuz remains under disruption for the seventh month in a row. Oil volatility feeds directly into India’s import bill, inflation expectations, and corporate margins.
Foreign institutional investors were net sellers on Friday, offloading ₹36.94 billion ($385.54 million) of shares, and cumulative outflows for the year have now hit $25.86 billion.
Market watchers will keep an eye on August industrial production data, the HSBC manufacturing PMI, and next week’s auto sales figures, all of which could temper or reinforce the current bearish tone.
The Fed’s September policy decision and global bond yields will also loom large; higher yields could tighten emerging‑market flows, while a Fed pause might lift the rupee.
Any progress on reopening the Strait of Hormuz could ease energy prices, but renewed geopolitical friction would likely keep volatility in play. Traders are treading carefully, awaiting the next data pulse and any signals from the RBI.