Sensex Drops 300 Points Amid Oil Shock
Middle East Tensions and Oil Surge Hit Markets Hard
Stock Market Today: India’s stock market opened in the red today as the BSE Sensex slipped over 300 points, hovering near 76,900, while the Nifty 50 dropped below the crucial 24,000 mark. The fall reflects rising uncertainty among investors amid global risk factors.
The major trigger behind this decline is escalating geopolitical tension involving Iran, which has raised serious concerns about global oil supply disruptions. As a result, Brent Crude prices surged close to $114 per barrel, putting pressure on economies like India that heavily depend on oil imports.
Sector-wise, NBFCs, private banks, and auto stocks led the decline. Stocks such as Kotak Mahindra Bank, Bharti Airtel, Dr. Reddy’s Laboratories, ONGC, and TCS traded lower.
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However, some resilience was seen in select stocks like Adani Ports, Eicher Motors, Reliance Industries, and Adani Enterprises, which managed to stay in the green.
Global cues remained weak as U.S. markets, including the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500, closed lower, further impacting sentiment.
The Indian rupee also weakened against the U.S. dollar, nearing record lows, adding more pressure on import-driven sectors.
Despite the fall, Foreign Institutional Investors (FIIs) have shown slight buying interest, offering limited support to the market.
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