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Indian stocks slide as tariff threats and higher oil prices hit sentiment
The Sensex fell nearly 1% to an intraday low of 76,722, while the Nifty 50 dropped below 24,000 as Brent crude rose for a fourth straight session to $92.67 a barrel.
India’s benchmark stock indices fell across the board in intraday trading on July 22, with the Sensex dropping nearly 750 points, about 1%, to an intraday low of 76,722, and the Nifty 50 slipping below 24,000 support to a low of 23,973.70.
The Nifty Midcap 100 and Smallcap 100 indices fell as well, with mid- and small-cap segments underperforming, as market sentiment was pressured by fresh tariff threats connected to US policy.
LiveMint Markets linked the selloff to US President Donald Trump’s announcement of tariffs on generic drugs imported into the United States starting August 1, 2026, with the tariff framework set to rise over subsequent periods.
The report also pointed to the widening US-Iran conflict, saying it has driven oil prices higher, raising inflation and tightening concerns for major oil importers like India, after Brent crude rose for the fourth consecutive session and reached $92.67 per barrel.
Latest closeWTI crude $87.52 ▲3.1%|Brent $94.43 ▲3.8%|Sensex 76,731.06 ▼0.9%