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Market move▼ Bearish for Indian equities
Sensex tanks over 600 points in early trade; crude oil trades above $100 per barrel
The brief
- Sensex fell over 600 points in early trade as crude traded above $100 per barrel
- Selling in banks and NBFCs, alongside weak global markets, dented sentiment
- Higher crude and market weakness pressure banks, NBFCs and other Indian equities
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Indian shares extend their losing streak
Indian equities came under pressure amid global weakness, rising crude prices and bond yields. The Sensex and Nifty recorded a seventh consecutive weekly decline, their longest such streak since 2020, as foreign investors sold ₹11,490 crore of equities over five days.
Thursday, 24 September
- Sensex tanks over 600 points in early trade; crude oil trades above $100 per barrel