Sensex, Nifty plunge 3 pc in volatile week over Middle East tensions, FII outflows
MUMBAI: Domestic equity benchmarks plummeted nearly 3 per cent this week on a cautious note amid heightened volatility, as persistent foreign fund outflows and escalating geopolitical tensions in the Middle East kept investors on edge.
The frontline indices saw a fall of 2.9 per cent each. Sensex closed at 78,918.90 against Friday's close of 81,287.19 (February 27), while Nifty settled at 24,450.45 against the previous week’s 25,178.65 closing.
Meanwhile, foreign institutional investors (FIIs) remained net sellers during the week, pulling out over Rs 23,000 crore from Indian markets amid a broader global de-risking trend. However, strong domestic institutional flows helped cushion the downside.
Rising geopolitical tensions and a sharp uptick in crude oil prices, with Brent moving closer to $86 per barrel.
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