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Markets Slide as Oil Prices Rise
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Indian shares opened lower on Friday, pressured by the rise in Brent crude oil to above USD 100 per barrel amid the Middle East crisis.
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Markets Slide as Oil Prices Rise
Indian shares opened lower on Friday, pressured by the rise in Brent crude oil to above USD 100 per barrel as the Middle East crisis escalates. The Sensex dropped 512.07 points to 75,869.38 in early trade on Thursday. The Nifty fell 153 points to 23,713.60, tracking weak market sentiment.
Oil crosses USD 100 per barrel as West Asia war escalates, markets slide
Global oil prices crossed USD 100 per barrel on Friday as the Middle East crisis escalated, sending shockwaves through financial markets. India’s benchmark indices, Sensex and Nifty, opened lower, with the Sensex dropping 512.07 points to 75,869.38 and the Nifty falling 153 points to 23,713.60. By 9:15 am IST, the Nifty was down 0.85% at 23,666.35, while the Sensex declined 0.89% to 75,708.19, marking a fifth consecutive session of losses. The Reserve Bank of India (RBI) noted that while the economy remains resilient, risks from the Iran conflict and a deficient monsoon could pose challenges. The RBI’s assessment underscored the broader economic impact of geopolitical tensions and commodity price volatility.
Markets Slide as Oil Goes Above $100 per Barrel Amid West Asia War Escalation
The decline came after US President Donald Trump announced a plan to use frozen Iranian assets to pay for war damages. The Reserve Bank of India has warned that the Iran war and a deficient monsoon pose risks to the economy, which remains resilient supported by healthy demand and strong industrial and services activity. The US Department of Defense has also warned that the Iran war poses significant risks to global oil supplies.
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