Mumbai: Equity benchmark BSE Sensex dropped over 100 points in the opening session on Friday as global equities turned negative after the US killed a top Iranian general, fuelling fears of a conflict in the oil-rich region.
Global oil prices surged four per cent and at around 11 am, the Brent Crude Oil was trading at $68.38.
The 30-share BSE index was trading 107.35 points or 0.26 per cent lower at 41,519.29. Similarly, the broader NSE Nifty slipped 39.10 points or 0.32 per cent to 12,243.10.
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Top gainers and losers
Asian Paints was the top loser in the Sensex pack, shedding up to 1.62 per cent, followed by Tata Steel, HDFC Bank, Mahindra and Mahindra, HUL, IndusInd Bank and Maruti.
On the other hand, ONGC was the top gainer, rising up to 2.77 per cent. TCS, Infosys, HCL Tech, Tech Mahindra, Sun Pharma and Hero MotoCorp were also trading in the green.
In the previous session, the 30-share gauge ended 320.62 points, or 0.78 per cent, higher at 41,626.64. The closed 99.70 points, or 0.82 per cent, up at 12,282.20 -- its new closing record.
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Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 688.76 crore, and domestic institutional investors purchased shares worth Rs 63.95 crore on Thursday, data available with stock exchanges showed.
According to traders, domestic investors followed Asian markets which fell after the Pentagon confirmed that US President Donald Trump ordered the killing of Iran Revolutionary Guards commander Qasem Soleimani, who died in Baghdad "in a decisive defensive action to protect US personnel abroad".