Indian benchmark indices remained under pressure for the fourth consecutive session, with the Sensex and Nifty ending lower as surging crude oil prices and weak corporate earnings dampened investor sentiment. Brent crude climbed above US$100 per barrel after fresh attacks on oil tankers in the Red Sea and escalating tensions in the Middle East, raising concerns over inflation and India’s import bill. IT stocks also witnessed selling after weaker-than-expected earnings from Infosys, while aviation shares came under pressure due to rising fuel costs.
Market experts believe volatility could remain elevated over the coming sessions as investors closely track crude oil prices, geopolitical developments and the ongoing earnings season. Foreign institutional investors have also remained cautious, while domestic institutional buying has helped limit the overall decline. Analysts expect stock-specific action to continue as more companies announce their quarterly results.
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