Sensex and Nifty Falter Amid Rising Crude Oil Prices and Inflation Concerns
The Sensex and Nifty indices experienced downturns, closing lower due to investor caution amid surging crude oil prices and geopolitical tensions. Major stocks, including Tata Steel and SBI, fell as inflation concerns mounted. Rising fuel prices and a weakening rupee added pressure, affecting market capitalisation and investor sentiment.
Benchmark equity indices Sensex and Nifty fell sharply on Friday, closing lower as selling pressure hit metal, oil & gas, and PSU bank shares. Investor concerns were heightened in the face of surging crude oil prices.
The 30-share BSE Sensex shed 160.73 points to settle at 75,237.99 after initial gains dwindled, while the NSE Nifty dropped 46.10 points to 23,643.50. Key laggards included Tata Steel and State Bank of India amidst an atmosphere of geopolitical uncertainty.
Market sentiment was also dampened by inflation worries, with recent petrol and diesel price hikes pushing inflationary pressures. Closing on a rough week, investor sentiment reflected the strain of a weakening rupee and global economic turbulences.
(With inputs from agencies.)
- READ MORE ON:
- Sensex
- Nifty
- crude oil
- inflation
- investor sentiment
- rupee
- geopolitical
- tensions
- Tata Steel
- PSU banks
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