Indian benchmark indices ended Thursday’s session sharply lower, weighed down by rising crude oil prices and persistent global uncertainty.
The BSE Sensex fell 582.86 points, or 0.75 per cent, to close at 76,913.50, while the Nifty 50 dropped 180.10 points, or 0.74 per cent, to settle at 23,997.55.
Markets witnessed a volatile trading day, with heavy selling pressure at the opening bell as oil prices surged amid escalating geopolitical tensions in West Asia. Benchmark indices had opened significantly lower, with the Sensex plunging over 900 points in early trade and the Nifty slipping more than one per cent.
Crude oil prices remained a key driver of market sentiment. Brent Crude Oil futures briefly climbed above USD 120 per barrel during the session before easing to around USD 116.59, still reflecting elevated levels not seen in years.
The spike has raised concerns over inflation, currency pressure, and India’s import bill, given its dependence on oil imports.
Global cues further dampened investor confidence. Major Asian indices, including Nikkei 225, Hang Seng and the Jakarta Composite, ended lower, mirroring a cautious mood across markets. US futures also indicated weakness, with the Dow Jones and S&P 500 trading marginally in the red.
Market participants pointed to sustained foreign institutional investor (FII) outflows and geopolitical risks as key factors driving volatility. Banking and market expert Ajay Bagga noted that rising crude prices and uncertainty around potential escalation in the Strait of Hormuz are adding pressure on domestic equities.
He added that the rupee has weakened towards the Rs 95 per US dollar mark, while bond yields have edged higher, reflecting broader stress across financial markets.
