New Delhi, 08 May (H.S.):

Amid escalating geopolitical tensions in West Asia, share markets closed lower on Friday, the week's final trading session. Weak investor sentiment triggered a second straight day of declines in domestic markets, with Sensex tumbling nearly 516 points and Nifty shedding 150 points.

The BSE's 30-share Sensex fell 516.34 points or 0.66% to settle at 77,328.19. It slipped as low as 698.09 points during trade. The NSE's Nifty dropped 150.50 points or 0.62% to 24,176.15.

Among Sensex constituents, State Bank of India shares plunged 6.62% post March quarter results. HDFC Bank, Bajaj Finance, Axis Bank, UltraTech Cement, and Mahindra & Mahindra also ended in losses. Titan surged 4.76% on favorable quarterly results, alongside gains in Asian Paints, Adani Ports, Infosys, and HCL Tech.

Global benchmark Brent crude traded near $100 per barrel. Among Asian markets, South Korea's Kospi rose, while Japan's Nikkei, China's Shanghai Composite, and Hong Kong's Hang Seng declined. European markets traded lower.

Analysts attributed the fall to West Asia tensions fueling energy supply concerns, prompting risk aversion. Foreign investor selling and weak global cues exacerbated the downturn.

Notably, the prior session saw Sensex close 114 points lower at 77,844.52, with Nifty down 4.30 points at 24,326.65.

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Hindusthan Samachar / Jun Sarkar