Indian Equity Benchmarks Extend Losses Amid Crude Price and Middle East Tensions

India's equity benchmarks continued their downward trend on Wednesday as concerns over crude oil prices and Middle East tensions weighed heavily on investor sentiment.

The BSE Sensex fell by 117.94 points, or 0.15%, to 77,117.52, while the Nifty 50 declined by 44 points, or 0.18%, to 24,110.90 as of 9:25 am.

Crude oil prices remain a key concern for investors, with Brent crude trading at $91.58 a barrel and WTI crude at $85.55 a barrel, up 0.62% and 0.72%, respectively.

Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, attributed the ongoing weakness in the market to rising crude prices and appreciating bond yields globally.

Vijayakumar noted that the Indian market has not corrected sharply despite strong fundamentals and abundant liquidity, and advised long-term investors to use the current weakness to accumulate quality growth stocks.