Indian Equities Tumble as Crude Oil Prices Soar Past $100
The Indian benchmark indices fell on Friday, with the BSE SENSEX closing at 76,059.77 points, down 331.62 points or 0.43% from Thursday's close of 76,391.39.
The decline extended a losing streak to five consecutive sessions, making it the longest run of declines for Indian benchmark indices in several weeks.
The primary catalyst behind Friday's decline was a sharp rise in global crude oil prices, which pushed Brent crude above $100 per barrel amid intensified Houthi attacks on Red Sea shipping and persistent tensions surrounding the Strait of Hormuz. This had direct implications for India, which imports most of its crude oil requirements.
The NSE Nifty 50 mirrored the move, falling 102.15 points or 0.43% to end at 23,767.45, slipping below the psychologically significant 23,800 level.