Indian Stock Market Slumps as Brent Crude Prices Soar Past $90
The Indian stock market has taken a downturn on August 12, 2026, due to rising Brent crude oil prices. The BSE Sensex fell by 0.68% and the NSE Nifty 50 slipped nearly 0.7%. This decline is attributed to Brent crude oil prices reaching $90 per barrel, which will increase India's import cost and core inflation worries.
The global market remains subdued as investors await key US Consumer Price Index (CPI) data and India's latest inflation figures, both of which could influence expectations for interest rates and monetary policy. The Indian rupee is trading near ₹95.42 against the US dollar due to elevated crude prices and continued foreign fund outflows.
The ongoing US-Iran tensions and uncertainty surrounding the Strait of Hormuz are also contributing factors to market sentiment. Uncertainty makes investors wary of risky assets, and any new developments that might disrupt oil supplies or shipping routes will increase the volatility of global and domestic markets.