Oil's Climb to $100 Pushes Rupee Lower
Elevated crude and geopolitical tensions drove broad selling, with 14 of 16 major sectors posting weekly losses, analysts said.
- On Friday, Indian benchmark indices Sensex and Nifty tumbled as soaring crude oil prices and escalating West Asia tensions dampened investor sentiment, extending the bearish trend to a seven-week low.
- Brent crude futures surged above $100 per barrel this week, driven by supply chain disruptions and US-Iran hostilities, intensifying inflationary pressures on corporate margins and investor risk appetite.
- Foreign Institutional Investors offloaded equities worth ₹438.24 crore on Thursday, contributing to broad-based selling across financial and IT sectors that logged significant weekly losses.
- Domestic Institutional Investors buying remains the only real cushion preventing a sharper fall, Enrich Money CEO Ponmudi R. noted, adding that the market remains in a "sell on rise" mode.
- Investors are now awaiting US consumer inflation data due later on Friday, seen as a key influence on next week's Federal Reserve interest rate decision.
47 Articles
47 Articles
India stocks log fifth weekly loss as oil fears grip markets
Stock markets fall in early trade amid soaring crude oil prices, West Asia conflict
Mumbai, Sep 11: Benchmark indices Sensex and Nifty tumbled in early trade on Friday on soaring crude oil prices amid escalating tensions in West Asia. Weak trends in global markets and foreign fund outflows also dented investors' sentiment. The 30-share BSE Sensex fell 628.24 points to 74,257.69 in early trade. The 50-share NSE Nifty dropped 221.20 points to 23,255.10. Among the 30 Sensex firms, Bajaj Finance, InterGlobe Aviation, Mahindra & Mah…
Markets trade flat in early deals amid elevated crude oil prices
Mumbai: Market benchmark indices Sensex and Nifty were trading on a flat note in early deals on Thursday, September 10, as elevated crude oil prices above USD 100-per-barrel mark, amid persistent geopolitical tensions, kept risk appetite subdued. The 30-share BSE Sensex was marginally up 38.07 points to 74,809.95 in early trade. The 50-share NSE Nifty … Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics an…
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