Sensex falls 852 points as oil tops $100 amid global sell-off

Indian stock market decline deepens as Brent crude crosses $100; Sensex and Nifty close sharply lower in latest India News Update

Market closes weak

India’s benchmark indices ended Thursday on a sharp negative note, with the BSE Sensex dropping 852.49 points to settle at 77,664.00, while the Nifty 50 fell 205.05 points to close at 24,173.05. The sell-off came amid rising global crude oil prices and weak cues from Asian markets, marking another day of losses in the domestic equities segment.

Sectoral pressure builds

Auto stocks led the decline during the session, with heavy selling seen across major counters. Shares of companies such as Tech Mahindra, M&M, Asian Paints, and IndiGo featured among the top laggards on the Sensex pack.

Broader market sentiment remained cautious as most sectoral indices on the National Stock Exchange ended in the red. Only a handful of indices, including media and pharma, managed to post marginal gains, reflecting a mixed but largely negative sectoral trend.

Global cues weigh

Asian markets largely mirrored the weakness seen in India. Key indices in South Korea, Japan, and Hong Kong closed lower, indicating cautious investor sentiment across the region.

However, overnight gains in US markets offered limited support. Wall Street indices, including the Dow Jones, Nasdaq, and S&P 500, had ended higher, but the positive momentum failed to carry forward into Asian trading hours.

Oil price surge

A major factor behind the market decline was the sharp rise in global crude oil prices. Brent crude surged past the $100 per barrel mark, trading near $104, raising concerns about inflationary pressures and input costs for Indian companies.

Higher oil prices are seen as a negative for import-dependent economies like India, as they widen the current account deficit and exert pressure on the currency.

Rupee weakens further

Reflecting the global headwinds, the Indian rupee depreciated by 34 paise to close at 94.12 against the US dollar. Currency weakness added to investor concerns, particularly for sectors sensitive to import costs and foreign capital flows.

Institutional selling continues

Market data showed sustained selling pressure from institutional investors. Foreign institutional investors (FIIs) remained net sellers, pulling out approximately ₹2,080 crore in the previous session. Domestic institutional investors (DIIs) also offloaded shares worth around ₹1,050 crore.

This continued outflow of funds has contributed significantly to the downward trend in equities over the past two trading sessions.

Previous session trend

The current decline follows a similar trend seen on April 22, when the Sensex had fallen by 757 points to close at 78,516, while the Nifty dropped 199 points to end at 24,378. The back-to-back losses signal growing caution among investors amid global uncertainties.

Outlook ahead

Market participants are expected to remain watchful of global oil price movements and foreign fund flows in the coming sessions. Analysts indicate that sustained crude prices above $100 could weigh further on market sentiment and corporate margins.

Investors will also track macroeconomic indicators and global developments closely for cues. The Indian stock market outlook remains sensitive to external triggers, making near-term volatility likely.

As per market experts, stability in crude prices and a reversal in institutional selling will be key factors in determining the next direction for equities. This remains a closely watched public interest story in the Latest News Today and broader National and International News cycle.