Sensex Plummets Over 673 Points Amid Rising Oil Prices and Foreign Fund Outflows
Sensex drops over 673 pts in early trade; breadth weak
Business Standard
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The S&P BSE Sensex dropped 672.56 points (0.88%) to 75,360.40 in early trading due to rising crude oil prices and ongoing foreign fund outflows. The Nifty 50 index also fell 176.10 points (0.74%) to 23,639.75, reflecting a weak market breadth with more declines than advances among stocks.
- 01S&P BSE Sensex fell by 672.56 points (0.88%) to 75,360.40.
- 02Nifty 50 index declined by 176.10 points (0.74%) to 23,639.75.
- 03Foreign portfolio investors sold shares worth ₹8,437.56 crore.
- 04JSW Energy reported a 38.36% increase in net profit but still saw a 6.95% drop in stock price.
- 05Satin Creditcare Network's stock surged 13.97% after a significant profit increase.
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In early trading, the S&P BSE Sensex fell by 672.56 points or 0.88%, reaching 75,360.40. The Nifty 50 index also saw a decline, dropping 176.10 points or 0.74% to 23,639.75. This downturn is attributed to rising crude oil prices, ongoing foreign fund outflows, and renewed concerns regarding the fragile U.S.-Iran ceasefire. The broader market reflected weakness, with the BSE 150 MidCap Index down 0.90% and the BSE 250 SmallCap Index declining 1.31%. On the BSE, only 902 shares advanced while 2,183 shares declined, indicating a weak market breadth. Foreign portfolio investors sold shares worth ₹8,437.56 crore, while domestic institutional investors were net buyers of ₹5,939.65 crore. Notable stock movements included JSW Energy, which reported a 38.36% increase in consolidated net profit for Q4 FY26 but saw its stock drop 6.95%. Conversely, Satin Creditcare Network's stock surged 13.97% after reporting a 639.72% increase in net profit. Meanwhile, Brent crude prices rose to $105 per barrel, further impacting market sentiments.
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The decline in the stock market could affect investor confidence and potentially influence consumer spending and investment decisions in the Indian economy.
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