Indian Equities Plunge as Brent Crude Hits Near-$100
The Indian equity markets experienced a decline on September 8, 2026, as Brent crude oil prices approached nearly $100 per barrel. This development sparked concerns about macroeconomic stability and led to a drop in the value of the Indian rupee. The Sensex fell by over 500 points to around 75,600, while the Nifty slipped below its key support levels at 23,650.
The banking, financial, and oil and gas sectors were heavily impacted, with stocks such as Data Patterns, BEL, HAL, and Paras Defence experiencing a decline. However, defence stocks showed resilience, rising after the Defence Ministry approved procurement proposals worth over ₹1.1 lakh crore.
In contrast, copper and cable stocks saw increased activity following record commodity prices. The primary market also witnessed robust interest with twelve IPOs lined up for the week, along with the listing pipeline of Arcil and other niche offerings.