1 hr ago
Sensex Falls 863 Points as Crude and Global Weakness Pressure Markets
Indian stock prices fell sharply on Thursday.
The Sensex and Nifty, which track groups of Indian companies, both went down.
By noon, the fall had reduced the total value of companies listed on the BSE by about ₹7.69 lakh crore.
Oil prices rose because investors worried that fighting near important sea routes could affect supplies.
Costlier oil can make imports more expensive for India and raise costs for businesses.
Stock markets in Asia were also weak, and investors were worried about rising bond yields.
Foreign investors had sold more than ₹6,100 crore of Indian shares the day before.
These worries made investors cautious about buying shares.
On Thursday, the Sensex fell 863.09 points and the Nifty lost nearly 310 points by afternoon.
The Sensex was at 71,775.62 at 12:44 pm, while the Nifty stood at 22,293.10 at 12:45 pm.
The decline erased about ₹7.69 lakh crore from the value of BSE-listed companies by noon.
Brent crude rose about 2% to $103 a barrel amid concerns about Middle East supply disruptions.
Foreign institutional investors sold more than ₹6,100 crore of Indian equities on Wednesday, adding to market pressure.
- Who
- Indian stock-market investors and companies listed on the BSE.
- What
- The Sensex and Nifty fell sharply, erasing about ₹7.69 lakh crore in market value by noon.
- Where
- Indian stock markets; the report cites the Sensex and Nifty and BSE-listed companies.
- When
- Thursday; index levels were reported around 12:44–12:45 pm. Foreign investors sold shares on Wednesday.
- Why
- Rising crude oil prices, weak global markets, concerns over bond yields and continued foreign investor selling weighed on sentiment.
Factors weighing on markets
Investor response and potential impact
Rising crude oil prices
Factors weighing on markets
Concerns about Middle East supply disruptions, including attacks on ships near the Gulf region and Strait of Hormuz, lifted Brent crude about 2% to $103 a barrel.
Investor response and potential impact
Higher oil prices could raise India's import bill and fuel inflation, while squeezing corporate profits.
Global market weakness and foreign selling
Factors weighing on markets
Weak Asian markets, rising bond yields, concerns about technology companies raising debt, and foreign equity sales weighed on sentiment.
Investor response and potential impact
Investors remained cautious about making fresh equity investments, with uncertainty raising concerns about further volatility.
Key facts
- Sensex change
- Down 863.09 points; at 71,775.62 at 12:44 pm.
- Nifty change
- Down nearly 310 points; at 22,293.10 at 12:45 pm.
- Intraday lows
- Sensex: 71,691.95; Nifty: 22,272.90.
- Market-value erosion
- Approximately ₹7,68,540 crore by noon.
- BSE-listed market capitalisation
- Fell from about ₹472.35 lakh crore on Wednesday to ₹464.67 lakh crore on Thursday.
- Brent crude
- Rose about 2% to $103 per barrel.
- Foreign investor sales
- Foreign institutional investors sold more than ₹6,100 crore of Indian equities on Wednesday.
Sources
Related news
Indian Markets Lose Nearly Rs 5 Lakh Crore After Sell-Off
Seven Factors Drive Sharp Fall in Indian Stock Markets
Sensex Plunges 1,124 Points as Crude Prices Surge
Indian Stocks Sink as Crude Surges Amid West Asia Tensions
Indian Markets Extend Sell-Off as Oil and Yields Rise
Indian Stocks Fall for Second Day as Oil Pressures Markets
Oil Jumps as Gulf Storm and Iran Risks Tighten Supply
India’s Food Reserves Buffer Crisis, but Key Risks Remain
Hormuz Traffic Falls; Tanker Attacks Rise, Houthis Claim Riyadh Strike
Tanker Hit by Projectiles off Qatar in Rare Gulf Strike
