Sensex Extends Losing Streak

2026-04-23 04:36 By Jereli Escobar 1 min. read

India’s BSE Sensex fell about 0.6% to 78,032 on Thursday, pressured by surging oil prices and escalating Middle East tensions.

Brent Crude rose above $100 per barrel for a fourth straight session after Iran seized two vessels in the Strait of Hormuz, heightening concerns over supply disruptions and inflation.

Sentiment was further dampened after HSBC downgraded Indian equities to “underweight,” citing risks to growth and demand in an import-reliant economy.

Foreign investors remained net sellers for a second straight session, offloading shares worth $221.56 million last Wednesday, adding to downside pressure.

On the corporate front, SBI Life Insurance posted weaker earnings, while Trent delivered strong quarterly growth, driving stock-specific moves.

Early laggards included Trent (-3.7%), even after reporting a 26% jump in quarterly profit, as well as HDFC Bank, ICICI Bank, Reliance Industries, HCL Tech, and Vedanta which declined between 0.5% and 1.8%, and Havells which dropped 5.6%.



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Sensex Extends Losing Streak
India’s BSE Sensex fell about 0.6% to 78,032 on Thursday, pressured by surging oil prices and escalating Middle East tensions. Brent Crude rose above $100 per barrel for a fourth straight session after Iran seized two vessels in the Strait of Hormuz, heightening concerns over supply disruptions and inflation. Sentiment was further dampened after HSBC downgraded Indian equities to “underweight,” citing risks to growth and demand in an import-reliant economy. Foreign investors remained net sellers for a second straight session, offloading shares worth $221.56 million last Wednesday, adding to downside pressure. On the corporate front, SBI Life Insurance posted weaker earnings, while Trent delivered strong quarterly growth, driving stock-specific moves. Early laggards included Trent (-3.7%), even after reporting a 26% jump in quarterly profit, as well as HDFC Bank, ICICI Bank, Reliance Industries, HCL Tech, and Vedanta which declined between 0.5% and 1.8%, and Havells which dropped 5.6%.
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India’s BSE Sensex closed roughly 1% lower at 78,516.5 on Wednesday, halting a three-day winning streak, as traders assessed weak earnings reports and the latest developments in the Middle East conflict. Uncertainty surrounding US-Iran talks and ongoing shipping disruptions kept investors cautious, despite the ceasefire extension. The IT sector was the biggest drag, led by a 10.9% plunge in HCLTech shares, following weaker-than-expected results and weak guidance for the next fiscal year. Tech Mahindra dropped 2.5%, despite its in-line quarterly results, as sentiment across the sector remained fragile. Infosys (-3.4%) and TCS (-2.8%) also saw heavy pressure. Other laggards included ICICI Bank (-1.5%), HDFC Bank (-1.5%), L&T (-1.3%) and Bharti Airtel (-1.3%). On the upside, Hindustan Unilever (2.8%) and NTPC (3.4%) posted the strongest gains.
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