Nifty Falls For 7th Day, Sensex Sheds 326 Points As Crude Oil Surge Spooks Markets

Indian equity markets extended their losing streak on Wednesday, with the Nifty falling for a seventh consecutive session and the Sensex declining for the fourth straight day as rising crude oil prices and renewed geopolitical uncertainty weighed on investor sentiment.

The Sensex fell 325.78 points, or 0.42 per cent, to close at 76,909.68. It had slipped as much as 412.57 points during the session. Over the past four trading days, the index has lost 1,170.28 points, or 1.49 per cent.

The Nifty declined 76.60 points, or 0.32 per cent, to 24,078.30, extending its losing run to seven sessions. During this period, the index has shed 505.5 points, or 2 per cent.

A key pressure point for investors was the renewed rise in crude oil prices after the 60-day US-Iran ceasefire expired without a meaningful diplomatic breakthrough. The uncertainty has revived concerns about a prolonged disruption to energy supplies, pushing oil prices higher.

Brent crude, the global benchmark, rose 1.04 per cent to USD 91.97 a barrel. Higher crude prices are particularly significant for India, which depends heavily on imported oil and could face pressure on inflation, the trade deficit and corporate margins if the surge persists.

“Markets turned cautious ahead of the release of the US FOMC minutes,” said Vinod Nair, Head of Research at Geojit Investments. He said the absence of a diplomatic resolution had kept crude prices and bond yields elevated, reinforcing a risk-off mood.

Among Sensex stocks, Power Grid, Bajaj Finance, Larsen & Toubro, ITC, Hindustan Unilever and Reliance Industries were among the major laggards. HCL Tech, Eternal, Kotak Mahindra Bank and Sun Pharma ended higher.

Global markets also remained under pressure. South Korea’s Kospi plunged 5.80 per cent, while Japan’s Nikkei and Shanghai’s SSE Composite also declined sharply. European markets were trading lower, following a weak close on Wall Street on Tuesday.

Despite the broader cautious mood, foreign investors remained buyers, purchasing Indian equities worth Rs 1,651.53 crore on Tuesday, according to exchange data.

The market’s immediate focus now shifts to global cues, crude oil movements and the US Federal Reserve’s policy outlook, with investors watching whether geopolitical tensions can ease enough to halt the prolonged sell-off.