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India stocks fall for a sixth straight session amid oil, yields
The Nifty 50 slid 0.3% and the BSE Sensex dropped 0.3% by mid-morning, as Brent crude hovered near $92 and long-term borrowing costs stayed elevated.
India’s benchmark equity indexes extended their decline on Wednesday, driven by concerns tied to elevated crude oil prices and rising global bond yields, which weighed on investor appetite for riskier assets, LiveMint Markets reported.
As of 9:45 IST, the Nifty 50 was down 0.35% to 24,070.65 and the BSE Sensex slipped 0.32% to 76,991.33. The Nifty 50 has now fallen for six consecutive sessions, losing around 1.7% over that stretch, with weakness broad-based across sectors, as 13 of 16 major sectors traded in negative territory.
The report linked market pressure to uncertainty in the Middle East after US President Donald Trump said on Tuesday that no negotiations were underway with Iran and that the Strait of Hormuz remained open, contradicting Tehran’s claim that the shipping route was closed. With the nearly six-month-old conflict still unresolved, Brent crude moved toward $92 a barrel, raising concerns about inflation and India’s import costs.
Separately, the outlet said higher long-term borrowing costs in the US, Germany, and Japan have reduced the appeal of emerging-market equities by lifting the attractiveness of returns in developed markets. It also noted India VIX was trading lower even after crude oil and the 30-year US bond yield rose above 5.3% following a 19-year high, while results season on the domestic front was described as better than expected.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|VIX 14.25 ▼2.6%