Crude Shock Hits Dalal Street; Sensex, Nifty Open Deep in the Red
What Happened
Indian equities opened sharply lower on Friday as soaring crude oil prices above $108 per barrel and escalating Middle East tensions weighed on investor sentiment. The Sensex opened at 74,309, down nearly 600 points, while the Nifty opened at 23,270, lower by about 208 points from the previous close. Most sectors traded in the red, with broader markets also under pressure.
Key Takeaways
The sharp rise in crude oil is the biggest concern for India, as it threatens inflation, corporate margins, and economic growth. Investors are turning cautious amid higher global bond yields, geopolitical tensions, and continued weakness in global markets.