Sensex and Nifty Decline 0.7% Amid Rising Oil Prices
· Business · Economic Times, LiveMint
Indian equity markets fell on Monday as a surge in crude oil prices following attacks on Saudi Arabia eroded early gains. The NSE Nifty 50 closed at 22,363.35, while the BSE Sensex dropped to 71,924.68, both falling 0.7% after an initial positive start. Brent crude futures rose 1.2% to $106.19 per barrel, intensifying concerns about potential supply disruptions and imported inflation. Sustained selling by foreign institutional investors and pressure on the rupee further weighed on market sentiment, with analysts suggesting pressure will persist until oil prices stabilize.
Why it matters
The market decline reflects the sensitivity of Indian equities to global energy price shocks and the ongoing influence of foreign capital flows on domestic indices.
Read the original report — Economic Times
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