The Nifty50 closed 0.55% lower at 24,193 after facing pressure from renewed geopolitical concerns following reported Iran-US clashes near the Strait of Hormuz. The Sensex declined 0.67% to 77,321 from the previous close. Despite the decline, both indices ended the week with gains of over 0.70%, showing resilience despite Friday's volatility. The market decline was primarily driven by geopolitical tensions as US and Iranian forces reportedly clashed in the Gulf, while the United Arab Emirates came under renewed attack. However, President Donald Trump indicated that a ceasefire was still holding despite the flare-up, providing some market stability.
Britannia shares plummeted as much as 5.2% to touch an intraday low of ₹5,511 despite reporting strong Q4 FY26 results. The company posted a consolidated net profit of ₹678 crore in Q4 FY26, registering 21% growth from ₹560 crore in the same period last year. Revenue from operations increased 6.5% to ₹4,719 crore compared to ₹4,432 crore in Q4 FY25, while consolidated sales stood at ₹4,686 crore, growing 7.1% year-on-year. However, the company's operating profit margin fell marginally to 18.08% from 18.16% in the corresponding period last year. In contrast, Pidilite Industries rallied as much as 4.45% to ₹1,515 following exceptional Q4 results, with consolidated net profit surging 36.63% to ₹584.15 crore compared to ₹427.52 crore in Q4 FY25. The company's revenue rose 13.24% to ₹3,648.16 crore and profit for the entire FY26 surged 17.86% to ₹2,470.72 crore.
The Nifty Smallcap 100 index rose 0.22% while the Nifty Midcap 100 index slipped 0.15%, showing mixed performance across broader markets. Defence emerged as the top-performing sector with a 3.30% gain, topping the charts among sectoral indices. Auto, Realty and Metals also attracted buying interest, showing broad-based strength across these sectors. However, FMCG, IT, PSU Banks and Consumer Durables faced selling pressure, with the Nifty Consumer Durables slipping 0.94% and Nifty FMCG declining 0.76%. The Nifty IT index fell 0.70%, while Nifty Oil & Gas also declined. According to The Hindu BusinessLine, the noticeable traction across sectors is offering ample trading opportunities, with the positive undertone primarily driven by a sharp cooling in crude oil prices amid optimism surrounding a potential US–Iran peace agreement.
Brent crude futures rose above $100 a barrel following the exchange of fire between US and Iranian forces near the Strait of Hormuz, reflecting concerns about supply disruptions. The escalation came as Washington awaited Tehran's response to a US proposal aimed at ending the war, while Iran said on Thursday that it was still reviewing the latest American proposals to end the conflict. Investors are closely monitoring the situation as negotiations between the US and Iran to end the war continue to make limited progress. On the currency front, the rupee strengthened for a second consecutive session against the dollar, supported by short covering and dollar inflows through domestic banks, with spot USD-INR facing immediate support at 93.87 and resistance at 94.60. Market experts note that the technical structure remains positive despite second-half profit booking, with immediate support near the 24,000 mark and resistance around 24,600.
