Sensex Tanks 1247 Points Amid Crude Oil Price Spike

The Indian stock market plummeted on September 24, with the Sensex tumbling 1,247.71 points and the Nifty declining to 23,063. This sharp decline was driven by a spike in crude oil prices, which rose 2.36% to $105.4 per barrel. Brent crude's increase was accompanied by weak global trends that dampened investor sentiment.

The Sensex fell 1.67%, while the Nifty dropped 1.64%. Among the 30 Sensex firms, 29 ended lower. Bajaj Finance led the decline with a drop of 5.47%, followed by Axis Bank at 4.67% and Bajaj Finserv at 4.06%. The insurance and banking sectors remained weak due to concerns over regulatory reviews of commission structures.

Markets in Europe were trading in the negative territory, while U.S. markets ended lower on Wednesday. Despite this, shares of the National Stock Exchange of India Ltd (NSE) ended nearly 2% higher at ₹1,818 in their debut trade.