Sensex Today: Market Tumbles Over 1,000 Points as Nifty Slides on Oil Shock

Sensex today dropped more than 1,007 points, or 1.36 per cent, to trade near 72,888 at 11:05 am as crude oil prices climbed.

Sensex today began the week on a shaky note. Indian stock markets fell sharply on Monday and stretched their losing run to seven weeks. At 11:05 am, the Sensex traded near 72,888. That marked a fall of more than 1,007 points, or 1.36 per cent.

The Nifty 50 also came under heavy pressure. It lost 317 points, or 1.37 per cent, and hovered around 22,823. Both indices slipped close to six month lows.

How the Market Closed Last Friday

The slide followed a brighter session on Friday. The Sensex gained 315.20 points, or 0.43 per cent, and settled at 73,895.74. The Nifty added 77.40 points, or 0.34 per cent, and ended at 23,140.50.

Why Is the Market Down Today?

Selling hit almost every big name. All 30 Sensex stocks traded mostly in the red. Bajaj Finance, Kotak Mahindra Bank and HDFC Bank were among the biggest laggards. Bajaj Finserv, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro and Bharat Electronics also dragged the index lower.

Rising crude oil prices were the main worry for Indian equities. Brent crude, the global oil benchmark, jumped over three per cent to $107.8 per barrel. India is the world’s third largest crude oil importer. Costlier oil can swell the import bill and push inflation higher.

Iran and the Strait of Hormuz Keep Traders on Edge

Oil climbed after Iran said it would not soften its conditions to reopen the Strait of Hormuz. This came after President Donald Trump rejected Iran’s proposal to reopen the route. Hopes of traffic returning through the crucial waterway have now faded.

Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, shared his outlook. He said: “Indian equity markets are likely to remain cautious as renewed geopolitical uncertainty and a rebound in crude oil prices weigh on investor sentiment. The rejection by US President Donald Trump of Iran’s proposal to resolve the conflict and reopen the Strait of Hormuz has revived concerns over prolonged supply disruptions, making oil prices the dominant factor for global markets.”

Asian Markets and Foreign Investors

The tension also hurt other Asian markets. South Korea’s KOSPI, Japan’s Nikkei 225 and Shanghai’s SSE Composite traded lower. Hong Kong’s Hang Seng index traded higher. US markets ended Friday in positive territory.

Foreign institutional investors (FIIs) kept selling as well. They offloaded equities worth ₹3,693.93 crore on Friday, according to exchange data. That steady selling added to the weak mood behind Sensex today.