Indian Stocks Plummet as Crude Oil Prices Soar

The Indian stock market ended the week in the red, with Nifty and Sensex closing more than 1.5% lower due to a sharp rally in crude oil prices driven by tensions in West Asia.

Crude oil prices were highly volatile throughout the week, with Brent crude breaching $100 per barrel on Friday as Houti attacks on Saudi Oil tanks intensified the tension.

The Indian Rupee also tracked the crude oil price movement, trading near record lows of around Rs 96.5 to Rs 96.6 per US Dollar by the week's end.

Despite this, several corporate earnings results emerged as a positive surprise for investors, including Tech Mahindra and UltraTech Cement.