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Indian stock markets decline amid rising crude oil prices
Indian equity markets experienced significant volatility and sharp declines, driven by rising global crude oil prices and geopolitical tensions in the Middle East. Brent crude surged above 108 dollars per barrel, fueled by concerns over supply disruptions involving Houthi rebels and conflict in the region. This spike in energy costs, combined with rising US 10-year bond yields approaching 5%, placed heavy pressure on domestic indices.
The BSE Sensex and Nifty 50 both faced downward pressure, with the Sensex closing down 120.83 points (0.16%) at 74,781.76 and the Nifty 50 falling 79.70 points (0.34%) to 23,398.10. The BSE market capitalization saw a notable decrease, dropping from 483 lakh crore rupees to 478 lakh crore rupees.
Additionally, the Indian rupee faced depreciation against the US dollar, influenced by the rising import bill for crude oil and broader global market weakness. Investors remain focused on upcoming US Federal Reserve meetings and domestic inflation data for future market direction.
Entities
BSE · Brent crude · Federal Reserve · Houthi rebels · India · Indian rupee · Mirae Asset Sharekhan · NSE · Reserve Bank of India · Sensex · US dollar
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Rising US 10-year bond yields near 5% contributed to global market pressure. hindi.news18.com · hindi.newsbytesapp.com · theindianawaaz.com
- [● 4 SOURCES] Increased conflict in the Middle East involving Houthi rebels has raised concerns over oil supply disruptions. lagatar.in · hindi.news18.com · hindi.newsbytesapp.com · www.punjabkesari.com
- [DISPUTED] The BSE Sensex closed down 120.83 points (0.16%) at 74,781.76. lagatar.in · samacharnama.com · theindianawaaz.com
- [DISPUTED] Brent crude oil prices rose above 108 dollars per barrel. lagatar.in · hindi.news18.com · hindi.newsbytesapp.com · www.punjabkesari.com · www.aajtak.in
- [DISPUTED] The Nifty 50 index fell 79.70 points (0.34%) to close at 23,398.10. lagatar.in · samacharnama.com · theindianawaaz.com
- [○ 1 SOURCE] The Reserve Bank of India announced plans to sell 1 lakh crore rupees in government bonds starting September 16 to reduce excess liquidity.
- [● 2 SOURCES] The BSE market capitalization decreased from 483 lakh crore rupees to 478 lakh crore rupees. lagatar.in · www.aajtak.in
- [● 3 SOURCES] The Indian rupee weakened against the US dollar due to rising oil prices and global market pressure. lagatar.in · hindi.newsbytesapp.com · hindi.webdunia.com