Mumbai: Indian equities began the final trading session of the financial quarter on a weak note, with benchmark indices witnessing a steep fall amid rising global uncertainty linked to surging crude oil prices. (Stock Market Today)
At the opening bell, the BSE Sensex dropped more than 1,000 points, reflecting heavy selling pressure across sectors. The Nifty 50 also slipped significantly, losing around 300 points in early trade.
Market sentiment had already turned cautious before the opening, as the GIFT Nifty signaled a weak start, trading nearly 270 points lower ahead of the session. Analysts had anticipated volatility due to global cues, particularly the surge in crude oil prices amid escalating geopolitical tensions involving Iran. (Stock Market)
The sharp rise in oil prices has raised concerns over inflation and India’s import bill, prompting investors to trim positions in energy-intensive and rate-sensitive sectors. Banking, auto, and IT stocks were among the early losers as broader market sentiment turned risk-averse.
The weak opening follows a steep decline in the previous session.
Market participants are expected to remain cautious in the near term, tracking crude oil movements and geopolitical developments closely. Analysts warn that continued volatility in global energy markets could keep domestic equities under pressure, especially if inflation concerns intensify.
Despite the current downturn, experts suggest that long-term fundamentals remain intact, though near-term trading may continue to be dictated by external risks and global sentiment shifts.
