Indian stock indices suffered a significant crash on Friday, wiping out gains from a ten-day consecutive winning streak driven by mounting domestic inflation, rising crude oil prices, and a tech-led sell-off on Wall Street.

Indian stock indices suffered a significant crash on Friday, wiping out gains from a ten-day consecutive winning streak driven by mounting domestic inflation, rising crude oil prices, and a tech-led sell-off on Wall Street.

Indian stock indices suffered a significant crash on Friday, wiping out gains from a ten-day consecutive winning streak driven by mounting domestic inflation, rising crude oil prices, and a tech-led sell-off on Wall Street.

The Indian stock indices crashed on Friday, erasing gains from a 10-day consecutive winning streak. Both the Nifty and BSE Sensex markets traded red without any recovery, hit by India’s inflation numbers, an Nvidia-related sell-off on Wall Street and higher crude oil prices.

The benchmark Nifty 50 dropped 155 points to close at 25,144.30. The BSE Sensex tumbled 318 points to settle at 81,592.45.

Bharti Airtel, Asian Paints, Hindustan Unilever, Bajaj Finance and ITC were winners in both the markets. Eichrom surged 1.34 per cent, leading gains in the Nifty 50 index. HDFC Bank, Mahindra and Mahindra, Shriram Finance, ICICI Bank and TCS lagged behind.

Bharti Airtel jumped after foreign brokerage Citi maintained its ‘Buy’ rating on the stock and increased its target price to ₹2,390 from ₹2,230. The brokerage highlighted Airtel’s move to reintroduce the ₹299 recharge plan with 1GB daily data instead of 1.5 GB, as in the case of the earlier version.

Despite foreign investors maintaining their interest in domestic equities, India’s food inflation and retail headline inflation numbers for October dragged down investor sentiment. Headline retail inflation stood at 6.09 per cent, above the RBI’s tolerance band of 2 to 6 per cent, while food inflation skyrocketed to 8.94 per cent from 7.74 per cent.

Crude oil prices rose slightly to $96 per barrel on Friday after President Donald Trump said the US no longer needs a deal with Iran and directed Vice President JD Vance to prioritise domestic matters over negotiations with Tehran. Both Indian and US bond yields are also rising, signalling investors are turning away from risky stock assets.

Wall Street ended lower overnight, with Dow Jones, S&P 500 and the Nasdaq falling after heavyweight Nvidia shares dropped following the resignation of its CEO, Jensen Huang.

However, strong domestic corporate earnings and sustained foreign inflows could cushion the blow and offer support to equities. The longer-term market outlook remains largely positive despite choppy trading.