Now Reading: Sensex falls 237 points, Nifty below 24,350 on crude, rupee jitters
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Sensex falls 237 points, Nifty below 24,350 on crude, rupee jitters
Sensex falls 237 points, Nifty below 24,350 on crude, rupee jitters
Indian benchmark indices extended losses on Thursday, with the BSE Sensex falling 237 points to 77,729 and the NSE Nifty declining 106 points to 24,343, as geopolitical tensions and elevated crude oil…
The Story in Brief
Indian benchmark indices extended losses on Thursday, with the BSE Sensex falling 237 points to 77,729 and the NSE Nifty declining 106 points to 24,343, as geopolitical tensions and elevated crude oil prices weighed on sentiment. The rupee weakened 7 paise to 95.40 against the US dollar. However, Brent crude futures eased 1.5% to $87.69 a barrel after forecasters cut global oil demand projections, reports the Times of India. Tata Group stocks slid after chairman N Chandrasekaran said he would not seek another term, erasing Rs 45,616 crore in market value. On Wednesday, the Sensex had dipped 36 points in early trade, with FIIs buying equities worth Rs 258.55 crore, according to rediff.com.
The Indian Opinion
The narrative that oil prices are driving the market ignores that crude actually eased on Thursday, and FIIs remain net buyers. The Tata leadership story is real but distant, Chandrasekaran's term ends in 2027, so panic selling may be overdone. The real test will be the US inflation data due later today: a softer reading could calm both the rupee and the market.
Sources (2): rediff.com, timesofindia.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
