Sensex, Nifty extend losing streak to 4th day as Brent crude nears $100
The BSE Sensex fell 363.66 points, or 0.47%, to close at 76,391.39, while the NSE Nifty50 declined 126.65 points, or 0.53%, to settle at 23,869.60. This marked Dalal Street's longest losing streak in seven weeks.
Benchmark stock market indices ended lower on Thursday, extending losses for a fourth straight session, as Brent crude surged close to the $100-a-barrel mark amid escalating tensions in the Middle East, raising fresh concerns over inflation, corporate margins and India's import bill.
The BSE Sensex fell 363.66 points, or 0.47%, to close at 76,391.39, while the NSE Nifty50 declined 126.65 points, or 0.53%, to settle at 23,869.60. This marked Dalal Street's longest losing streak in seven weeks.
Brent crude jumped 4.77% to $98.56 per barrel, while WTI crude climbed 4.13% to $90.42, as fears of further disruptions to global oil supplies intensified.
OIL SURGE KEEPS DALAL STREET UNDER PRESSURE
Investor sentiment remained weak as crude oil prices continued their sharp rally following the escalating conflict in the Middle East.
Higher oil prices pose a major risk for India, the world's third-largest importer and consumer of crude oil, as they can stoke inflation, widen the current account deficit and squeeze corporate profit margins.
Vinod Nair, Head of Research at Geojit Investments Limited, said markets remained under pressure as investors reassessed the impact of rising energy prices.
"With crude oil prices approaching the USD 100/bbl amid concerns over further disruptions to global energy supplies, investor sentiment remained subdued as markets reassessed inflation risks and corporate margins. Recent macroeconomic indicators suggest that prolonged geopolitical tensions are increasingly filtering into the domestic economy, reflected in rising WPI and a moderation in business activity," he said.
He added that elevated oil prices have strengthened expectations of a higher-for-longer global interest rate environment, reducing investors' appetite for emerging markets.
BANKING, REALTY AND MIDCAPS DRAG
Selling pressure remained broad-based, with most sectoral indices ending in the red.
The Nifty Realty index emerged as the worst performer, falling 1.81%, followed by Nifty Chemicals (-1.87%), Nifty MidSmall IT & Telecom (-1.52%), Nifty MidSmall Financial Services (-1.23%), Nifty PSU Bank (-1.00%), Nifty Oil & Gas (-1.02%), Nifty Private Bank (-0.77%) and Nifty Financial Services (-0.62%).
The broader market also remained under pressure. The Nifty Smallcap 100 declined 1.01%, Nifty Midcap 50 fell 1.08%, Nifty Midcap 100 slipped 0.99% and the Nifty 500 lost 0.70%.
India VIX rose 1.37% to 13.48, indicating heightened investor caution.
Among Sensex stocks, Adani Ports was the biggest loser, falling 2.26%, followed by Bajaj Finance (-1.96%), IndiGo (-1.89%), Axis Bank (-1.36%), SBI (-1.22%), Tata Steel (-1.21%), Maruti Suzuki (-1.11%), Reliance Industries (-1.05%) and Bharti Airtel (-0.97%).
Pharma stocks also remained under pressure after weak quarterly results from Dr Reddy's Laboratories, Cipla and HPCL weighed on sentiment.
AUTO STOCKS OUTPERFORM
Despite the weak market, the Nifty Auto index gained 0.70%, emerging as the best-performing sector.
Mahindra & Mahindra led the Sensex gainers with a 1.70% rise, followed by TCS (+1.51%), Eternal (+1.16%), Bajaj Finserv (+0.63%), HCLTech (+0.61%), Kotak Mahindra Bank (+0.59%) and Sun Pharma (+0.57%).
FMCG stocks also showed resilience, with Hindustan Unilever gaining 0.29% and ITC adding 0.21%.
Nair said investors continued to reward companies delivering strong earnings despite the broader market weakness.
"Selling pressure was broad-based across sectors; however, auto stocks outperformed on the back of strong quarterly earnings, highlighting that despite prevailing market volatility, investors continue to favour businesses demonstrating resilient earnings growth, healthy demand trends and stronger visibility on future performance," he said.
With Brent crude now approaching the psychologically important $100-a-barrel mark, investors are expected to remain cautious in the coming sessions as they monitor developments in the Middle East and their impact on oil prices and inflation.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Benchmark stock market indices ended lower on Thursday, extending losses for a fourth straight session, as Brent crude surged close to the $100-a-barrel mark amid escalating tensions in the Middle East, raising fresh concerns over inflation, corporate margins and India's import bill.
The BSE Sensex fell 363.66 points, or 0.47%, to close at 76,391.39, while the NSE Nifty50 declined 126.65 points, or 0.53%, to settle at 23,869.60. This marked Dalal Street's longest losing streak in seven weeks.
Brent crude jumped 4.77% to $98.56 per barrel, while WTI crude climbed 4.13% to $90.42, as fears of further disruptions to global oil supplies intensified.
OIL SURGE KEEPS DALAL STREET UNDER PRESSURE
Investor sentiment remained weak as crude oil prices continued their sharp rally following the escalating conflict in the Middle East.
Higher oil prices pose a major risk for India, the world's third-largest importer and consumer of crude oil, as they can stoke inflation, widen the current account deficit and squeeze corporate profit margins.
Vinod Nair, Head of Research at Geojit Investments Limited, said markets remained under pressure as investors reassessed the impact of rising energy prices.
"With crude oil prices approaching the USD 100/bbl amid concerns over further disruptions to global energy supplies, investor sentiment remained subdued as markets reassessed inflation risks and corporate margins. Recent macroeconomic indicators suggest that prolonged geopolitical tensions are increasingly filtering into the domestic economy, reflected in rising WPI and a moderation in business activity," he said.
He added that elevated oil prices have strengthened expectations of a higher-for-longer global interest rate environment, reducing investors' appetite for emerging markets.
BANKING, REALTY AND MIDCAPS DRAG
Selling pressure remained broad-based, with most sectoral indices ending in the red.
The Nifty Realty index emerged as the worst performer, falling 1.81%, followed by Nifty Chemicals (-1.87%), Nifty MidSmall IT & Telecom (-1.52%), Nifty MidSmall Financial Services (-1.23%), Nifty PSU Bank (-1.00%), Nifty Oil & Gas (-1.02%), Nifty Private Bank (-0.77%) and Nifty Financial Services (-0.62%).
The broader market also remained under pressure. The Nifty Smallcap 100 declined 1.01%, Nifty Midcap 50 fell 1.08%, Nifty Midcap 100 slipped 0.99% and the Nifty 500 lost 0.70%.
India VIX rose 1.37% to 13.48, indicating heightened investor caution.
Among Sensex stocks, Adani Ports was the biggest loser, falling 2.26%, followed by Bajaj Finance (-1.96%), IndiGo (-1.89%), Axis Bank (-1.36%), SBI (-1.22%), Tata Steel (-1.21%), Maruti Suzuki (-1.11%), Reliance Industries (-1.05%) and Bharti Airtel (-0.97%).
Pharma stocks also remained under pressure after weak quarterly results from Dr Reddy's Laboratories, Cipla and HPCL weighed on sentiment.
AUTO STOCKS OUTPERFORM
Despite the weak market, the Nifty Auto index gained 0.70%, emerging as the best-performing sector.
Mahindra & Mahindra led the Sensex gainers with a 1.70% rise, followed by TCS (+1.51%), Eternal (+1.16%), Bajaj Finserv (+0.63%), HCLTech (+0.61%), Kotak Mahindra Bank (+0.59%) and Sun Pharma (+0.57%).
FMCG stocks also showed resilience, with Hindustan Unilever gaining 0.29% and ITC adding 0.21%.
Nair said investors continued to reward companies delivering strong earnings despite the broader market weakness.
"Selling pressure was broad-based across sectors; however, auto stocks outperformed on the back of strong quarterly earnings, highlighting that despite prevailing market volatility, investors continue to favour businesses demonstrating resilient earnings growth, healthy demand trends and stronger visibility on future performance," he said.
With Brent crude now approaching the psychologically important $100-a-barrel mark, investors are expected to remain cautious in the coming sessions as they monitor developments in the Middle East and their impact on oil prices and inflation.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Benchmark stock market indices ended lower on Thursday, extending losses for a fourth straight session, as Brent crude surged close to the $100-a-barrel mark amid escalating tensions in the Middle East, raising fresh concerns over inflation, corporate margins and India's import bill.
The BSE Sensex fell 363.66 points, or 0.47%, to close at 76,391.39, while the NSE Nifty50 declined 126.65 points, or 0.53%, to settle at 23,869.60. This marked Dalal Street's longest losing streak in seven weeks.
Brent crude jumped 4.77% to $98.56 per barrel, while WTI crude climbed 4.13% to $90.42, as fears of further disruptions to global oil supplies intensified.
OIL SURGE KEEPS DALAL STREET UNDER PRESSURE
Investor sentiment remained weak as crude oil prices continued their sharp rally following the escalating conflict in the Middle East.
Higher oil prices pose a major risk for India, the world's third-largest importer and consumer of crude oil, as they can stoke inflation, widen the current account deficit and squeeze corporate profit margins.
Vinod Nair, Head of Research at Geojit Investments Limited, said markets remained under pressure as investors reassessed the impact of rising energy prices.
"With crude oil prices approaching the USD 100/bbl amid concerns over further disruptions to global energy supplies, investor sentiment remained subdued as markets reassessed inflation risks and corporate margins. Recent macroeconomic indicators suggest that prolonged geopolitical tensions are increasingly filtering into the domestic economy, reflected in rising WPI and a moderation in business activity," he said.
He added that elevated oil prices have strengthened expectations of a higher-for-longer global interest rate environment, reducing investors' appetite for emerging markets.
BANKING, REALTY AND MIDCAPS DRAG
Selling pressure remained broad-based, with most sectoral indices ending in the red.
The Nifty Realty index emerged as the worst performer, falling 1.81%, followed by Nifty Chemicals (-1.87%), Nifty MidSmall IT & Telecom (-1.52%), Nifty MidSmall Financial Services (-1.23%), Nifty PSU Bank (-1.00%), Nifty Oil & Gas (-1.02%), Nifty Private Bank (-0.77%) and Nifty Financial Services (-0.62%).
The broader market also remained under pressure. The Nifty Smallcap 100 declined 1.01%, Nifty Midcap 50 fell 1.08%, Nifty Midcap 100 slipped 0.99% and the Nifty 500 lost 0.70%.
India VIX rose 1.37% to 13.48, indicating heightened investor caution.
Among Sensex stocks, Adani Ports was the biggest loser, falling 2.26%, followed by Bajaj Finance (-1.96%), IndiGo (-1.89%), Axis Bank (-1.36%), SBI (-1.22%), Tata Steel (-1.21%), Maruti Suzuki (-1.11%), Reliance Industries (-1.05%) and Bharti Airtel (-0.97%).
Pharma stocks also remained under pressure after weak quarterly results from Dr Reddy's Laboratories, Cipla and HPCL weighed on sentiment.
AUTO STOCKS OUTPERFORM
Despite the weak market, the Nifty Auto index gained 0.70%, emerging as the best-performing sector.
Mahindra & Mahindra led the Sensex gainers with a 1.70% rise, followed by TCS (+1.51%), Eternal (+1.16%), Bajaj Finserv (+0.63%), HCLTech (+0.61%), Kotak Mahindra Bank (+0.59%) and Sun Pharma (+0.57%).
FMCG stocks also showed resilience, with Hindustan Unilever gaining 0.29% and ITC adding 0.21%.
Nair said investors continued to reward companies delivering strong earnings despite the broader market weakness.
"Selling pressure was broad-based across sectors; however, auto stocks outperformed on the back of strong quarterly earnings, highlighting that despite prevailing market volatility, investors continue to favour businesses demonstrating resilient earnings growth, healthy demand trends and stronger visibility on future performance," he said.
With Brent crude now approaching the psychologically important $100-a-barrel mark, investors are expected to remain cautious in the coming sessions as they monitor developments in the Middle East and their impact on oil prices and inflation.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
