Sensex opens lower as Brent stays near $89 after gains
India’s BSE Sensex fell about 0.4% to 77,707 as Brent hovered around $89/bbl after rising 4.6% last week amid Middle East supply concerns; several stocks also moved on company updates.
India’s BSE Sensex fell about 0.4% to 77,707 on Monday, following losses in the previous session amid persistent concerns over elevated crude oil prices and ongoing tensions in the Middle East.
Brent crude hovered around $89 a barrel on Monday after rising 4.6% last week, as uncertainty over efforts to end the Iran war raised concerns about global oil supplies.
Among individual stocks, Reliance Industries was in focus after announcing plans to work with Britain’s Rolls-Royce to develop and produce an engine for India’s fighter aircraft program, although shares opened 0.4% lower.
Voltas fell 2.6% despite reporting a jump in first-quarter earnings, supported by robust air conditioner demand.
Meanwhile, PhysicsWallah drew attention after posting a narrower first-quarter consolidated loss of 775.7 million rupees, versus 1.2 billion rupees a year earlier, as revenue climbed 24.4%, with shares rising 6.8%.
Other notable laggards were BSE Ltd (-4.2%), Embassy (-2.9%), and Cupid (-2.2%).