Sensex, Nifty Slide Nearly 3% In Early Trade Amid Oil Price Surge

Indian stock markets witnessed a sharp decline on Monday morning as benchmark indices BSE Sensex and Nifty 50 fell nearly three per cent in early trade. The fall was driven by a surge in global crude oil prices, weak international markets and continued foreign fund outflows.

The 30-share Sensex plunged 2,345.89 points, or 2.97%, to 76,573.01 in early trading. Meanwhile, the 50-share Nifty dropped 708.75 points, or 2.89%, to 23,741.70.

All 30 companies listed on the Sensex were trading in the red during early trade. Shares of InterGlobe Aviation fell nearly 8 per cent, making it one of the biggest losers. Other major laggards included Tata Steel, Maruti Suzuki, State Bank of India, Asian Paints, and ICICI Bank.

The sharp market decline came as Brent Crude prices surged over 23% to $114.59 per barrel, raising concerns about inflation and economic pressure on oil-importing countries like India. Global markets also showed weakness, with Nikkei 225 dropping about 6.5% and KOSPI falling over 7%.

Foreign Institutional Investors (FIIs) sold equities worth ₹6,030 crore on Friday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹6,971 crore, according to exchange data. Analysts warn that prolonged geopolitical tensions and high oil prices could continue to pressure markets.

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