Indian benchmark indices declined on Friday and posted weekly losses as Israel's military strikes on Iran escalated tensions in the Middle East and dampened global risk sentiment.

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Iran launched 100 drones toward Israel in retaliation.

The Indian stock market braces for a volatile week as geopolitical tensions between Iran and Israel rattle glo

U.S. stocks were sharply down Friday, after Israel launched strikes on Iran's nuclear sites. But major benchmarks were off their morning lows.

Investors had two reactions to Israel's broad attack on Iran late Thursday: They sold stocks broadly and bought crude oil and gold. Futures trading suggests the Standard & Poor's 500 Index will open down 52 points.

For 2027 and 2028, the Bank of Israel forecasts budget deficits of 3.5% to 4.0%, higher than those projected by the government.

The Nifty 50 index closed 1.01%, or 253 points, lower at 24,888.20 on Thursday - its steepest decline since 20 May. The 30-share Sensex fell 1%, or 823 points, to settle at at 81,691.98. The market sell-off was broad-based.