Business · Markets · 1 hr ago
Indian stocks fall as Saudi attacks push oil prices higher
India’s main stock indexes fell on Monday after giving up gains made earlier in the day.
The Sensex closed down 0.76%, and the Nifty 50 fell 0.70%.
Crude oil prices rose after Iran-aligned Houthi forces carried out fresh attacks on Saudi Arabia, a major oil exporter, raising concerns about regional supplies.
Higher oil prices can add pressure to Indian markets, and analysts also cited foreign investor selling and weakness in the rupee as concerns.
Foreign investors sold Indian equities worth ₹1,708.5 crore on Monday, while domestic institutions bought more than they sold.
The Sensex and Nifty have each lost more than 15% so far this year.
An analyst said markets may remain under pressure until oil prices ease significantly or there is greater clarity on resolving the conflict.
Indian stocks fell on Monday as higher oil prices after weekend attacks on Saudi Arabia weighed on investor sentiment.
The Nifty 50 declined 0.70% to 22,363.35, while the Sensex fell 0.76% to 71,924.68.
Brent crude futures rose 1.2% to $106.19 a barrel.
Foreign investors were net sellers of Indian equities worth ₹1,708.5 crore on Monday, while domestic institutions were net buyers.
Analysts also cited foreign investor selling and pressure on the rupee as concerns for the market.
- Who
- Indian stock markets, including the Nifty 50 and Sensex.
- What
- Stocks fell as oil prices rose following attacks on Saudi Arabia.
- When
- Monday; the attacks took place over the weekend.
- Where
- India; the attacks were in Saudi Arabia.
- Why
- The attacks raised concerns about regional oil supplies and pushed crude prices higher, weighing on investor sentiment.
This story does not have two clearly opposing sides.
Iran-aligned Houthis carried out fresh attacks on Saudi Arabia.
Indian stocks fell and Brent crude futures rose after the attacks raised concerns over regional supplies.
- Nifty 50 close
- 22,363.35, down 0.70%
- Sensex close
- 71,924.68, down 0.76%
- Brent crude futures
- $106.19 a barrel, up 1.2%
- Foreign portfolio investors
- Net sellers of ₹1,708.5 crore in Indian equities on Monday
- Attacks
- Fresh attacks on Saudi Arabia by Iran-aligned Houthis over the weekend
What people are saying
Markets are likely to remain under pressure until crude oil prices eased significantly or there was greater clarity on a resolution to the conflict.
Sources
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