Sensex falls over 800 points in opening trade as oil surge, West Asia tensions weigh on sentiment – Firstpost

Indian benchmark indices opened sharply lower on Monday, with the BSE Sensex plunging more than 800 points, as a spike in crude oil prices and escalating tensions in West Asia triggered broad-based selling across sectors.

The 30-share Sensex was down 815.35 points, or 1.08 per cent, at 74,422.64 at 9:20 am, after opening at 74,807.97. The index touched an intraday low of 74,345.92 in early deals. The NSE Nifty 50 also slipped over 1 per cent to trade below the 23,400 mark.

Investor sentiment remained fragile after oil prices surged following a drone attack on a nuclear power plant in the United Arab Emirates, intensifying fears of supply disruptions in the region. Brent crude climbed to around $112 a barrel, raising concerns over inflationary pressures and India’s import bill.

The market mood was further dampened after US President Donald Trump warned
that “the clock is ticking” for Iran, signalling a possible escalation in the conflict as diplomatic efforts appeared to stall.

For India, higher crude prices pose a significant risk given the country’s heavy dependence on oil imports. Analysts warned that sustained elevated crude prices could worsen imported inflation, pressure the rupee and complicate the Reserve Bank of India’s policy outlook.

The rupee had already weakened past the 96-per-dollar level on Friday amid persistent foreign fund outflows and rising energy costs. Foreign portfolio investors have sold Indian equities worth more than $23 billion so far in 2026, adding to pressure on domestic markets.

Selling pressure was widespread across sectors on Monday, with power, metals, banking and auto stocks among the worst hit.

Power Grid emerged as the top laggard on the Sensex, dropping 3.5 per cent, while Tata Steel declined 3.23 per cent after the company reported a weaker-than-expected March-quarter performance due to higher raw material costs and restructuring expenses at its Netherlands operations.

Auto and consumer stocks also witnessed sharp declines, with Maruti Suzuki falling 2.09 per cent, Titan shedding 2.12 per cent and Mahindra & Mahindra slipping 1.65 per cent. Financial heavyweights HDFC Bank, Bajaj Finance and Bajaj Finserv were down between 1.7 per cent and 1.8 per cent.

IT stocks, however, provided some support to the market amid hopes that a weaker rupee could improve export earnings. Infosys gained 1.35 per cent, while Tech Mahindra and TCS rose nearly 0.7 per cent each.

Broader Asian markets also traded lower, reflecting investor caution over rising geopolitical risks and the impact of surging energy prices on global growth.