Sensex, Nifty Fall for 4th Straight Day as Crude Oil Crosses $114

Indian stock markets extended their losing streak to a fourth consecutive session on Friday as rising crude oil prices and persistent global uncertainties overshadowed early gains in information technology stocks.

The BSE Sensex fell 125.56 points, or 0.17 per cent, to close at 73,123.83, while the NSE Nifty 50 declined 87.65 points, or 0.39 per cent, to settle at 22,600. Both benchmark indices had opened higher, supported by buying in IT shares and heavyweight stocks, but the recovery lost momentum as the session progressed.

The reversal came despite early strength in technology stocks, with Tata Consultancy Services (TCS), Infosys and other IT companies attracting buying interest. Reliance Industries and Larsen & Toubro also ended higher, offering some support to the benchmarks.

However, weakness across the broader market highlighted the extent of investor caution. The Nifty Midcap 100 fell 2.21 per cent, while the Nifty Smallcap 100 plunged 2.94 per cent, reflecting sharper selling pressure in smaller companies.

The biggest concern for investors remained crude oil prices, with Brent crude trading above $114 per barrel amid escalating tensions in West Asia. Higher oil prices pose a significant risk to India, which depends heavily on imported crude. A sustained rise could increase inflationary pressures, widen the import bill and put pressure on the rupee, complicating the outlook for corporate earnings and economic growth.

Global cues also remained weak, with US markets ending lower in the previous session and several Asian indices trading in negative territory.

Foreign institutional investors (FIIs) had sold equities worth ₹3,458.70 crore on Thursday, while domestic institutional investors (DIIs) purchased shares worth ₹2,891.32 crore. The divergence underscored the pressure from overseas selling, even as domestic investors continued to provide some support.

The continued decline in benchmark indices, coupled with steeper losses in midcap and smallcap stocks, points to growing caution in the market as investors weigh geopolitical risks, oil prices and global financial conditions.