Stock markets tumble on high crude oil prices, foreign fund outflows
BSE Sensex dropped 503 points to 72,260.09 in early trade while NSE Nifty tumbled 151 points to 22,626.50
Mumbai, Sep 29 (PTI) Equity benchmark indices Sensex and Nifty tumbled in early trade on Tuesday as elevated crude oil prices due to uncertainty over the West Asia situation and foreign fund outflows weighed on investors' sentiment.
The 30-share BSE Sensex dropped 503 points to 72,260.09 in early trade. The 50-share NSE Nifty tumbled 151 points to 22,626.50.
From the 30 Sensex firms, Bajaj Finance, HDFC Bank, Kotak Mahindra Bank, Reliance Industries, Asian Paints and Infosys were among the major laggards.
Sun Pharma, InterGlobe Aviation, Adani Ports were the winners.
Brent crude, the global oil benchmark, traded 1,74 per cent higher at USD 107.1 per barrel.
"Indian equity markets are expected to remain under pressure as elevated crude oil prices and persistent uncertainty over the US-Iran conflict weigh on market sentiment. US President Donald Trump said the US would win the conflict 'very soon', while officials are communicating with mediators seeking to end the conflict. However, significant uncertainty remains around the negotiations, keeping concerns over potential supply disruptions through the Strait of Hormuz elevated," Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,353.22 crore on Monday, according to exchange data.
In Asian markets, South Korea’s KOSPI, Japan's Nikkei 225 index and Hong Kong's Hang Seng index traded lower, while Shanghai's SSE Composite index quoted marginally higher.
US markets ended lower on Monday.
On Monday, the Sensex tanked 1,124.02 points, or 1.52 per cent, to settle at 72,771.72, the lowest closing level since March 30, 2026. The Nifty dropped 360.25 points, or 1.56 per cent, to end at 22,780.25. PTI
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