Sensex, Nifty falls as oil surge hits stock markets

Indian equity markets extended their losing streak on Monday, with benchmark indices falling sharply in afternoon trade as rising crude oil prices and weak global sentiment weighed on investors.

At around 1:30 PM, the Sensex was down about 838 points, while the Nifty slipped below the 24,000 mark to trade near 23,949, marking a third straight session of declines, News.Az reports, citing Upstox.

Market pressure intensified amid concerns over higher oil prices and limited progress in US–Iran peace discussions, which added uncertainty to global risk appetite.

Heavy selling was seen across banking, consumer, and auto stocks. State Bank of India, Canara Bank, Titan Company, and Swiggy were among the key laggards, dragging broader indices lower.

State Bank of India fell after its quarterly results failed to meet investor expectations, while Canara Bank also slipped following a drop in net profit despite improving asset quality.

Consumer and lifestyle stocks came under pressure as well, with jewellery-related shares such as Titan declining after reports of weaker sentiment in discretionary spending.

Swiggy dropped sharply despite reporting a narrower quarterly loss, as full-year losses widened due to higher expenses in delivery, advertising, and expansion.

Auto and mobility-linked stocks showed mixed trends. JBM Auto gained on expectations tied to electric bus demand, while Hyundai Motor India also saw selective buying after its earnings update and EV expansion plans.

Tourism and travel stocks remained under pressure after calls for reduced non-essential foreign travel, adding to weakness in aviation and hospitality counters.

Overall, the market decline reflected a combination of global oil price volatility, geopolitical uncertainty, and selective earnings disappointment across key sectors.

News.Az 

By Aysel Mammadzada