Last Updated on March 12, 2026 12:53 am by BIZNAMA NEWS
AMN
Indian equity markets ended sharply lower on Wednesday as rising crude oil prices and escalating tensions in West Asia dampened investor sentiment. The benchmark indices, BSE Sensex and Nifty 50, slipped nearly two per cent after a brief recovery in the previous session.
At the close of trading, the Sensex plunged 1,342.27 points (1.72%) to settle at 76,863.71, while the Nifty 50 declined 394.75 points (1.63%) to end at 23,866.85. Market participants attributed the fall to a sharp spike in global crude oil prices, persistent foreign institutional investor (FII) outflows, and heavy selling in banking and automobile stocks.
Banking and Financial Sector Under Pressure
Shares of major banking and financial companies led the market decline as investors trimmed positions amid global uncertainty. Stocks of Axis Bank, Kotak Mahindra Bank, Bajaj Finance, and Bajaj Finserv were among the biggest losers on the Sensex. Analysts said the financial sector remained under pressure due to continued foreign fund withdrawals and cautious investor sentiment.
Auto Stocks Slip
The automobile sector also witnessed notable selling. Shares of Mahindra & Mahindra and Maruti Suzuki ended lower as rising crude oil prices raised concerns about higher input costs and weakening consumer demand.
Telecom and Retail Stocks Decline
Among other major laggards were telecom and retail counters. Bharti Airtel and retail major Trent Limited also closed in negative territory as broader market sentiment remained cautious.
Defensive Stocks Provide Some Support
Despite the overall downturn, a few defensive stocks managed to post gains. Pharmaceutical giant Sun Pharmaceutical Industries and power sector major NTPC Limited ended higher, offering limited support to the benchmarks.
Oil Prices Surge
Global oil prices rose sharply amid geopolitical tensions in West Asia. Brent crude oil, the international benchmark, surged 5.76% to $92.86 per barrel, raising concerns about inflationary pressures and higher import bills for oil-dependent economies like India.
Rupee Weakens
In the currency market, the Indian Rupee weakened by 19 paise to close at 92.04 against the US dollar, reflecting pressure from higher crude prices and foreign capital outflows.
Market experts said volatility may persist in the near term as investors closely monitor geopolitical developments in West Asia, movements in crude oil prices, and global fund flows.
