Sensex opens 0.4% lower as crude, Middle East tensions hit financials

India's BSE Sensex closed about 0.6% lower at 78,499.2 on Friday, reversing gains from the previous two sessions as higher oil prices and pressure on financial heavyweights weighed on sentiment. Investors remained cautious amid geopolitical concerns and uncertainty over the prospects for a US-Iran deal, while an RBI draft proposal triggered worries about possible restrictions on certain revolving credit products. Bajaj Finance slumped 5.9% to lead the losses, with Bajaj Finserv, ICICI Bank, Trent, Bharti Airtel and Eternal also among the main laggards. Technology stocks provided some support, led by Tata Consultancy Services, Tech Mahindra, Infosys and HCLTech, and State Bank of India rose around 1% after reporting stronger-than-expected quarterly profit backed by healthy loan growth. For the week, the index advanced 0.5%.

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