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Market move▼ Bearish for Indian Oil
Nifty slides to six-month low as US-Iran deal hopes fade, oil tops $100 a barrel
The brief
- Crude oil above $100 a barrel weighed on Indian stocks as hopes for a US-Iran deal faded
- The Nifty slid to a six-month low
- Higher crude pressures India’s import bill and margins at oil-sensitive sectors, including airlines and paints
- Indian refiners buy costly West Asian barrels as Russian supply narrows
- Saudi Aramco considering discounts for Oman STS crude to counter high freight rates, sources say
- Brent Stays Elevated Even As Saudi Arabia's East-West Pipeline Resumes Oil Exports
- Fuel costs leave bitter aftertaste for Heineken in Asia as brewing cost rises
- Oil Prices Rise as U.S.-Iran Talks Face Fresh Hurdles
Indian stocks fall as crude tops $100
On 28 September, the Sensex fell 1,124 points to 72,771.72 and the Nifty dropped 360 points to 22,780.25, a six-month low. Rising crude prices, weak global cues and geopolitical uncertainty weighed on markets; reports said investor wealth fell by ₹7.5 lakh crore.
Monday, 28 September
- Nifty slides to six-month low as US-Iran deal hopes fade, oil tops $100 a barrel