Sensex Holds Near 6-Month Low as Oil Climbs

2026-09-29 04:39 By Jereli Escobar 1 min. read

India’s BSE Sensex fell about 0.8% to 72,189 on Tuesday, its lowest since late March, extending the previous session’s losses and hovering near a six-month low as rising oil prices drove the decline, while persistent foreign outflows and elevated US Treasury yields also weighed on sentiment.

Brent crude rose around 1.5% to above $107 a barrel, fueling concerns over India’s import bill, inflation and corporate margins given its heavy reliance on imported oil.

The rupee also weakened past 96 per dollar, adding pressure on equities as higher oil prices threaten to widen the trade deficit and stoke imported inflation.

The weakness came despite stronger-than-expected economic data, with industrial output rising 8% year-on-year in August, above the 6.5% forecast and July’s 7.4%, while manufacturing output increased 9% from 8.2%.

Notable laggards included Honasa Consumer (-2.8%), HDFC Bank (-1.5%), State Bank of India (-0.7%), Reliance Industries (-1.1%), and PB Fintech (-3.5%).



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Sensex Holds Near 6-Month Low as Oil Climbs
India’s BSE Sensex fell about 0.8% to 72,189 on Tuesday, its lowest since late March, extending the previous session’s losses and hovering near a six-month low as rising oil prices drove the decline, while persistent foreign outflows and elevated US Treasury yields also weighed on sentiment. Brent crude rose around 1.5% to above $107 a barrel, fueling concerns over India’s import bill, inflation and corporate margins given its heavy reliance on imported oil. The rupee also weakened past 96 per dollar, adding pressure on equities as higher oil prices threaten to widen the trade deficit and stoke imported inflation. The weakness came despite stronger-than-expected economic data, with industrial output rising 8% year-on-year in August, above the 6.5% forecast and July’s 7.4%, while manufacturing output increased 9% from 8.2%. Notable laggards included Honasa Consumer (-2.8%), HDFC Bank (-1.5%), State Bank of India (-0.7%), Reliance Industries (-1.1%), and PB Fintech (-3.5%).
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