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Indian stocks slide as oil rises, foreign selling persists
Brent crude pushed above $104 a barrel intraday, reviving imported inflation concerns as the US 10-year yield stays near 5.3% and the rupee weakens.
LiveMint Markets said India’s key benchmark indices extended their decline as expectations for tighter domestic monetary policy, persistent foreign selling, and renewed oil price pressure hurt risk appetite.
The outlet pointed to Brent crude rising sharply above $104 a barrel intraday on renewed Middle East tensions, which could lift concerns over imported inflation.
LiveMint Markets also cited US 10-year Treasury yields holding near 5.3% and further rupee weakness, saying the moves add pressure by increasing the relative appeal of dollar based assets, raising the risk of tighter financial conditions and higher inflation for longer.
Sumeet Bagadia of Choice Broking said the short term technical picture remains weak, noting RSI fell to 27.55, which keeps momentum in oversold territory and may allow a technical bounce but does not yet confirm a reversal.
Latest closeWTI crude $89.70 ▼1.6%|Brent $100.73 ▼1.5%