India Stocks Plummet as Crude Oil Prices Surge Past $100

India's stock market began Friday on a weak note, with the Sensex and Nifty indices plummeting due to rising crude oil prices and geopolitical tensions in West Asia. The GIFT Nifty index signaled a gap-down start, indicating a subdued opening for Dalal Street.

The BSE Sensex fell 851 points or 1.11% to trade at 75,540, while the Nifty 50 declined 243 points or 1.02% to trade at 23,626.70. Major losers in the Nifty 50 included Bajaj Finance, Shriram Finance, Eternal, Infosys, and Dr Reddy's Laboratories.

The India VIX volatility index surged 8% to 14.53, while sectoral indices such as financial services and autos dropped 1.43% each. The US dollar index was trading around 101.42, and the Indian rupee remained largely stable at 96.57.