Indian benchmark indices Sensex and Nifty fell in early trade as Brent crude surged above $96 on West Asia tensions. HDFC Bank and Infosys lagged.
Indian stocks opened lower Thursday. A fresh surge in crude oil prices rattled sentiment.
The BSE Sensex dropped 230.95 points to 76,521.02. The NSE Nifty fell 57.15 points to 23,937.
Infosys, Bajaj Finance, HDFC Bank, State Bank of India, NTPC and Reliance Industries were among the Sensex laggards. HDFC Bank (Alpha Score 38) and Infosys (Alpha Score 57) are covered on AlphaScala's HDB stock page and INFY stock page.
Trent and Eternal were the only gainers.
"Investor sentiment remains fragile as escalating tensions in the Middle East fuel a fresh surge in global oil prices and weigh on risk appetite," said Ponmudi R, CEO of Enrich Money. "Markets were rattled after Yemen's Houthi rebels reportedly attacked two Saudi oil tankers, opening a new front in the regional conflict and raising fears of further disruptions to crude supplies."
Brent crude climbed 2.27% to $96.20 a barrel. The move pushed the crude oil profile into focus. Traders weighed supply risks.
Asian markets were mixed. South Korea's KOSPI jumped 3.15%. Japan's Nikkei 225 and Hong Kong's Hang Seng rose. Shanghai's SSE Composite slipped.
U.S. markets ended lower Wednesday.
Foreign institutional investors sold a net Rs 819.20 crore in Indian equities on Wednesday, exchange data showed.
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.