Indian stock markets remained under pressure on Thursday as benchmark indices traded in the red amid rising crude oil prices and global geopolitical tensions. BSE Sensex dropped nearly 600 points, while NIFTY 50 slipped about 0.5% during the trading session.
Although the market recovered some early losses, overall sentiment remained weak due to rising inflation concerns and escalating tensions between the United States and Iran.
📊 Reliance Industries Supports the Market
Amid the broader market weakness, Reliance Industries provided some support to the indices. The stock gained nearly 1%, helping the market recover partially from its intraday lows.
Earlier in the session, Sensex had plunged nearly 992 points to around 75,871, while Nifty slipped close to 23,556 before recovering slightly during the day.
⛽ Crude Oil Spike Triggers Market Concerns
The major trigger behind the market pressure was the sharp surge in global crude oil prices. Oil prices crossed the $100 per barrel mark, raising concerns about inflation and economic stability.
Supply disruptions and attacks on oil tankers in the Middle East region have increased volatility in the global oil market, adding to investor nervousness.
🌏 Global Markets Also Under Pressure
Asian markets also traded lower following weak cues from global markets. Japan’s Nikkei 225 declined 1.6%, while the TOPIX slipped 1.34%. South Korea’s KOSPI also fell 0.75%, reflecting cautious sentiment among global investors.
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