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Sensex falls fourth day on crude surge
The Hindu··23 Jul
Sensex fell 363.66 points to 76,391.39 and Nifty dropped 126.65 points to 23,869.60 on July 23, extending losses to a fourth session. Brent crude jumped 4.52 percent to $98.32 per barrel amid West Asia tensions. Adani Ports, Bajaj Finance, IndiGo, Axis Bank, SBI and Tata Steel led Sensex declines.
Prism
What It Means For You
- Investors holding bank and aviation stocks may see continued pressure while Brent crude stays near $98.
- Higher oil prices raise inflation risks that can affect EMIs, fuel bills and corporate margins.
- FIIs sold Rs 819.20 crore in equities on July 22 after a one-day reprieve, adding to outflows.
What's Happening
- Sensex fell 363.66 points to 76,391.39 and Nifty dropped 126.65 points to 23,869.60 on July 23.
- Benchmark indices extended losses to a fourth straight session as Brent crude jumped 4.52 percent to $98.32.
- Adani Ports, Bajaj Finance, IndiGo, Axis Bank, SBI and Tata Steel were among the major Sensex laggards.
Crude Spike Weighs On Indian Equities
- Analysts cited US-Iran tensions and global AI spending concerns alongside oil prices for subdued sentiment.
- On July 22 Sensex had already fallen 715 points while Nifty declined 191 points in the prior session.
- Mahindra and Mahindra, TCS, Eternal and Bajaj Finserv were among the few Sensex gainers on July 23.
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