Although the benchmark indices opened lower, they traded negatively throughout the session and ultimately closed red.
Indian equity benchmarks, Sensex and Nifty50, closed sharply lower on Friday, weighed down by uncertainty over the US-Iran deal, with selling pressure broad-based across sectors.
At the closing bell, the BSE Sensex closed 1,092 points lower (down 1.4%)
Meanwhile, the NSE Nifty closed 359 points lower (down 1.5%)
Tech Mahindra, HCL Tech, and Asian Paints were the top gainers today.
Bajaj Finance, Tata Steel, and UltraTech Cement, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 23,706 with 167 points lower at the time of writing.
The BSE 150 Midcap index is trading 1.2% lower, and the BSE 250 SmallCap index is trading 0.6% lower.
Barring the IT sector and the telecommunication sector all other sectoral indices were trading negatively today, with the metal and oil & gas sector witnesses selling pressure.
The rupee is trading at Rs 95.04 against the US$.
Gold prices for the latest contract on MCX are trading 0.5% lower at Rs 1,56,097 per 10 grams.
Meanwhile, silver prices were trading 0.8% lower at 2,67,243 per 1 kg.
Three reasons why Indian share markets are falling:
#1 US-Iran Peace Deal Uncertainty
Markets fell because investors are unsure whether the US-Iran peace deal will actually happen. The two countries agreed to continue the ceasefire and ease shipping restrictions, but the deal is not officially approved yet. Because of this uncertainty, traders remained cautious even though oil prices dropped.
#2 Falling Brent Crude Prices
Brent crude oil prices fell below $93 per barrel due to hopes of a US-Iran agreement. Lower oil prices are good for India because the country imports a lot of crude oil, which can reduce inflation and improve the economy. Investors believe oil prices may fall further if the deal becomes final.
#3 FII Selling
Foreign Institutional Investors (FIIs) sold Indian shares worth Rs 1,040 crore on Wednesday. Heavy selling by foreign investors usually creates pressure on the stock market and affects investor confidence. So far this year, FIIs have already sold a record amount of Indian equities.
Physicswallah Q4 FY26 Results
Shares of Physicswallah came into focus after the company reported its Q4 FY26 results.
In the March quarter, PhysicsWallah reduced its consolidated net loss to Rs 0.75 bn from Rs 2.93 bn a year earlier.
The company's revenue from operations rose 50.7% year-on-year to Rs 9.19 bn, compared to Rs 6.10 bn in the same quarter last year.
PhysicsWallah is an India-based education company that provides test-preparation courses for competitive examinations along with a wide range of upskilling programs.
Ashok Leyland Q4 FY26 Results
Shares of Ashok Leyland came into focus after the company reported its Q4 FY26 results.
Ashok Leyland reported Q4FY26 revenue growth of 18.9% year-on-year and 22.8% quarter-on-quarter to Rs 141.61 bn, driven by 17.4% YoY growth in volumes and a 1.3% rise in average selling price (ASP).
The company's EBITDA increased 15.3% YoY and 34.6% QoQ to Rs 20.66 bn. EBITDA margin, however, declined by 46 basis points YoY to 14.6%, although it improved by 128 basis points sequentially.
Ashok Leyland's adjusted net profit rose 11.5% YoY and 27.2% QoQ to Rs 14.05 bn. For FY26, the company posted revenue, EBITDA, and PAT growth of 14%, 16%, and 19%, respectively, reaching Rs 440 bn, Rs 57 bn, and Rs 38 bn.
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