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Nifty and Sensex slide as crude rises amid US-Iran tensions
By 9:45 AM IST, selling intensified with both benchmarks down more than 1%, and the Nifty 50 briefly slipped below 22,900 for the first time since April 7.
Nifty 50 and the BSE Sensex opened lower on Monday, September 28, as investors stayed cautious after the benchmarks posted their longest weekly losing streak since 2020, LiveMint Markets reported. At 9:15 AM IST, the Nifty 50 was down 0.33% to 23,064.90 and the Sensex fell 0.22% to 73,734.83.
The decline accelerated after that, with both indices falling more than 1% around 9:45 AM IST, the outlet said. The Nifty 50 also slipped below the 22,900 level for the first time since April 7.
LiveMint Markets cited rising crude oil prices as an additional pressure point, tied to a US-Iran stalemate. Brent crude futures climbed about 2% to around $106.50 per barrel after US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and end the fighting.
Market weakness was broad, with 14 of 16 major sectors trading lower, LiveMint Markets added. Small-cap and mid-cap indices were also down by about 0.2% each as the session progressed.
Latest closeWTI crude $92.44 ▼2.3%|Brent $97.47 ▼8.6%|Sensex 73,580.54 ▼1.7%