Sensex tumbled 715 points as Brent crude jumped 4.68% to $95.27. Infosys, ICICI Bank led losses. FIIs bought ₹1,650 crore. AlphaScala: UL 58, IBN 57, INFY 57.
Indian equity benchmarks fell for a third consecutive session on Wednesday, with the Nifty slipping below the 24,000 mark as a sharp jump in crude oil prices and selling in banking stocks deepened losses. The BSE Sensex dropped 715.06 points, or 0.92%, to settle at 76,755.05. The NSE Nifty declined 191.45 points, or 0.79%, to 23,996.25.
Brent crude, the global benchmark, surged 4.68% to $95.27 per barrel – the highest level in months – according to crude oil profile. The move added to inflation concerns for India, a major oil importer, and weighed on sentiment across rate-sensitive sectors.
Infosys and State Bank of India were among the biggest losers on the Nifty, along with ICICI Bank and Axis Bank. InterGlobe Aviation also fell sharply. On the upside, Hindustan Unilever, NTPC, Power Grid and Titan bucked the trend.
"Indian equities closed lower as a sharp rise in crude oil prices and persistent geopolitical tensions in the Middle East kept investors firmly in risk-off mode," said Ponmudi R., CEO of Enrich Money, an online trading and wealth tech firm. "Investor attention remained firmly on the macro backdrop as higher crude oil prices and renewed concerns over potential U.S. tariffs on pharmaceutical imports weighed on sentiment."
Foreign institutional investors turned buyers on Tuesday, purchasing equities worth ₹1,650.16 crore, exchange data showed. That followed a stretch of selling earlier in the week. Markets in Asia were mixed on Wednesday – South Korea's KOSPI and Shanghai's SSE Composite edged higher, while Japan's Nikkei and Hong Kong's Hang Seng fell. European markets opened higher, and U.S. stocks ended Tuesday in positive territory.
Among the stocks in focus, AlphaScala's proprietary scoring system gives Hindustan Unilever (UL) a Moderate rating of 58, ICICI Bank (IBN) a Moderate 57, and Infosys (INFY) a Moderate 57. The scores reflect the broader market's risk-off posture, though the crude oil rally has yet to trigger a sector-wide downgrade.
Analysts expect the next session to track oil prices and any further escalation in West Asia. FII flows will also be watched after Tuesday's buying broke a short selling streak.
Prepared with AlphaScala editorial tooling from the source reporting linked above. Indexable analysis may include a cited Alpha Score value. Publishing checks screen each story before release. Educational coverage, not personalized advice.