Sensex falls about 0.6% as Brent nears $100 and oil rises
India’s BSE Sensex fell about 0.6% (460 points) to 75,125 Wednesday, extending losses as Brent climbed toward $100 and Middle East tensions escalated. Nifty 50 also declined; foreign investors kept selling.
6%, or 460 points, to 75,125 on Wednesday, extending losses as crude oil prices climbed and tensions in the Middle East intensified. The Nifty 50 also declined, with investors worried higher energy costs could stoke inflation, widen India’s trade deficit and weigh on growth. Brent crude moved toward $100 a barrel, while the rupee stayed under pressure near 95 per dollar. Foreign investors kept selling Indian equities, adding to the pressure.
IT stocks led the decline, with Infosys, HCLTech and Tech Mahindra among the main laggards. Coforge fell more than 5% after Chairman Om Prakash Bhatt resigned following concerns raised by an internal audit over the company’s board evaluation process. 7%), BSE Ltd. 0%), IFCI Ltd.
6%).