Sensex Retreats on Oil Price Spike

2026-07-14 04:33 By Jereli Escobar 1 min. read

India’s BSE Sensex fell about 0.5% to 77,236 on Tuesday, reversing gains from last session as rising geopolitical tensions in the Middle East and a sharp climb in crude oil prices dampened investor sentiment.

Brent crude traded above $85 a barrel, its highest level since June 17, stoking concerns over imported inflation for India, which relies heavily on oil imports.

Market sentiment was further pressured after foreign institutional investors snapped an eight-session buying streak, turning net sellers with outflows of roughly 30.6 billion rupees.

On the corporate front, HCL Tech shares dropped 2.0% even after reporting quarterly earnings that topped expectations but maintaining its full-year guidance, signaling a cautious outlook despite resilient demand.

Meanwhile, ICICI Prudential Asset Management shares fell about 2.3% despite posting a 23% rise in quarterly profit.

Other notable laggards included Shriram (-3.7%), Newgen (-3.2%), InterGlobe (-2.5%), and Bajaj Finance (-2.3%).



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Sensex Retreats on Oil Price Spike
India’s BSE Sensex fell about 0.5% to 77,236 on Tuesday, reversing gains from last session as rising geopolitical tensions in the Middle East and a sharp climb in crude oil prices dampened investor sentiment. Brent crude traded above $85 a barrel, its highest level since June 17, stoking concerns over imported inflation for India, which relies heavily on oil imports. Market sentiment was further pressured after foreign institutional investors snapped an eight-session buying streak, turning net sellers with outflows of roughly 30.6 billion rupees. On the corporate front, HCL Tech shares dropped 2.0% even after reporting quarterly earnings that topped expectations but maintaining its full-year guidance, signaling a cautious outlook despite resilient demand. Meanwhile, ICICI Prudential Asset Management shares fell about 2.3% despite posting a 23% rise in quarterly profit. Other notable laggards included Shriram (-3.7%), Newgen (-3.2%), InterGlobe (-2.5%), and Bajaj Finance (-2.3%).
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