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Indian markets close: Sensex slips, Nifty below 24.3K amid India-Pakistan diplomatic spat

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April 24, 2025
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Indian markets close: Sensex slips, Nifty below 24.3K amid India-Pakistan diplomatic spat
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India’s benchmark equity indices, the Sensex and Nifty 50, saw their impressive seven-day winning streak come to an end during Thursday’s trading session.

Growing geopolitical tensions between India and Pakistan, following a deadly terror attack in Jammu and Kashmir, cast a shadow over investor sentiment, prompting a cautious pullback despite underlying positive market factors.

After consistently climbing for over a week, the markets opened with a noticeable softness.

By mid-afternoon (around 2:50 pm IST), the BSE Sensex had retreated by approximately 300 points to trade near 79,811, while the Nifty 50 dipped below the 24,250 mark.

While the declines were relatively contained, they signaled a clear shift in mood as investors reacted to the escalating situation between the neighboring nations following the attack in Pahalgam that tragically claimed 26 lives.

Narender Singh, smallcase manager and founder of Growth Investing, directly linked the market’s downturn to the heightened friction.

He told Economic Times, “The recent decline in Indian stock markets, with the Sensex falling over 200 points and the Nifty dropping below 24,300, is primarily attributed to escalating geopolitical tensions following a deadly militant attack in Jammu and Kashmir that claimed 26 lives.”

India’s diplomatic response creates uncertainty

In response to the attack, India initiated several significant diplomatic measures against Pakistan.

These actions included expelling Pakistani defense advisors stationed in New Delhi, planning a reciprocal reduction in embassy staff numbers in both capitals, suspending the 1960 Indus Water Treaty governing water sharing, closing the main Attari border crossing, and suspending the SAARC Visa Exemption Scheme for Pakistani nationals.

These steps, while representing a firm diplomatic stance, inevitably introduced a layer of uncertainty into the financial markets. Sectors often perceived as more vulnerable to geopolitical risks, such as energy and infrastructure, experienced heightened volatility.

“Sectors sensitive to geopolitical risks, such as energy and infrastructure, have witnessed increased volatility. Heightened tensions have led to risk aversion among investors,” Singh added, noting a clear trend of caution and some selling pressure emerging.

Earnings season continues amidst uncertainty

Amidst these geopolitical developments, the domestic earnings season continues, with investors closely watching fourth-quarter results from major corporations like Hindustan Unilever, Axis Bank, Nestle India, SBI Life, and Tech Mahindra, among others, scheduled for release today.

The post Indian markets close: Sensex slips, Nifty below 24.3K amid India-Pakistan diplomatic spat appeared first on Invezz

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