Sensex Slides to 3-Month Low as Oil Surges

India’s BSE Sensex pared early losses to close 0.2% lower at 74,872 on Friday, hovering near three-month lows and reversing modest gains in the previous session. Sentiment remained pressured by elevated crude prices, inflation concerns, geopolitical tensions and sustained foreign outflows. Investors also stayed cautious ahead of key US inflation data, which could influence next week’s Fed decision and capital flows into domestic equities. Several sectors declined, led by metals and financials, although gains in technology stocks provided some cushion. Tata Steel was the biggest laggard (-1.7%), followed by Reliance Industries (-1.3%), Sun Pharma (-1.2%), Bajaj Finance (-1.1%), Power Grid (-1.1%) and L&T (-1%). Banking stocks were mixed, with HDFC Bank (+2%) and Kotak Mahindra Bank (+0.4%) gaining, while Axis Bank (-1%) and ICICI Bank (-0.4%) declined. Tech Mahindra, HCL Tech and Infosys were among the top performers, rising 0.6%-1.4%. For the week, the index dropped around 2.1%.

The SENSEX Index decreased 121 points or 0.16 percent on Friday to close at 74782 points. The decline was led by Tata Steel (-2.25%), Indusind Bank (-1.52%) and Maruti Suzuki (-1.25%). On the upside, the strongest performers were HDFC Bank (2.12%), Tech Mahindra (0.86%) and ITC (0.83%).

India’s BSE Sensex slipped about 1.0%, or 710 points, to 74,188 on Friday, weighed down by surging crude oil prices, foreign fund outflows and escalating Middle East tensions. The seizure of Yemen’s port of Mocha by Iran-aligned Houthis raised concerns over disruptions to Red Sea shipping, while traffic through the Strait of Hormuz remained restricted. Brent crude climbed toward $109 a barrel as disruptions around key shipping routes raised concerns over energy supplies, threatening to widen India’s import bill and fuel inflation. The rupee remained under pressure after weakening to 95.44 per dollar, while rising US Treasury yields added to the risk-off mood. Finance, producer manufacturing, and non-energy mineral stocks were the biggest drags. Notable laggards included HDFC Bank (-2.5%),  BSE Ltd. (-3.2%), Tata Steel (-2.3%) and Bajaj Finance (-2.2%) were among the biggest losers, while HCLTech (1.2%), Tech Mahindra (1.0%) and Infosys (0.6%) gained.