Sensex Plummets as Crude Oil Surges Above $90 Amid US-Iran Tensions

Benchmark equity indices Sensex and Nifty opened lower on Wednesday as rising crude oil prices and global geopolitical concerns dampened investor sentiment.

The 30-share BSE Sensex declined by 0.4% to 77,784 points, while the NSE Nifty fell up to 114 points.

Shares of Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Titan, and Bajaj Finance were among the major laggards in the Sensex pack. State Bank of India, Tech Mahindra, Axis Bank, and Asian Paints were among the stocks trading higher.

Brent crude prices surged 1.24% to $90.01 per barrel, adding pressure on equity markets.