Sensex Falls to 6-Week Low on Oil Spike

2026-05-18 04:33 By Jereli Escobar 1 min. read

India’s BSE Sensex fell about 1.2% to 74,357 on Monday, marking its lowest since April 6 and extending the previous session’s losses, as surging oil prices weighed on sentiment.

Brent crude rose above $111 per barrel after reports of attacks on UAE energy infrastructure and rising Iran-related geopolitical risks.

Sentiment weakened further after US President Donald Trump warned that “the clock is ticking” for Iran, amid limited progress in diplomatic efforts to de-escalate Middle East tensions.

Selling pressure intensified as the rupee weakened toward record lows, stoking concerns over imported inflation and foreign capital outflows.

Among laggards, Tata Steel fell about 4% after weaker-than-expected Q4 profit, hit by higher raw material costs and a one-off restructuring charge at its Netherlands unit, while Amber (-9.4%), Cochin Ship (-6.7%), and Himadri Chemical (-4.7%) also declined.

On the upside, Gland Pharma surged 12.4% after reporting a 97% rise in March-quarter net profit.



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