Sensex Slips 632 Points as Brent Crude Stays Above $100 a Barrel
Indian equity benchmarks fell sharply in early trade on Thursday, September 24, 2026, as Brent crude oil held above the $100-a-barrel mark and a rise in US bond yields soured sentiment across global markets.
The 30-share BSE Sensex fell 632.68 points to 74,189.55. The 50-share NSE Nifty dropped 216.15 points to 23,222.55.
Banking and non-banking financial stocks led the slide. Among the 30 Sensex firms, Bajaj Finance declined 4.75% and Bajaj Finserv 3.49%. Axis Bank, InterGlobe Aviation, Kotak Mahindra Bank and HDFC Bank were among the other major laggards.
A few stocks, however, held their ground. Tech Mahindra, Sun Pharma, HCL Tech, ICICI Bank and Tata Consultancy Services were the gainers on the index.
Brent crude, the global oil benchmark, quoted at $102.2 a barrel — down 0.90% for the day but still above the $100 mark. West Texas Intermediate (WTI) was trading around $91–92 a barrel. Oil prices have firmed up amid renewed uncertainty surrounding the diplomatic process between the United States and Iran.
"The sharp spike in Brent crude above $102 and the U.S. 10-year bond yield rising to 5.11% will weigh on the market today. So long as these two global headwinds remain, the prospects of a smart recovery in the market appear remote. Today the market's focus will be on the NSE listing," said V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.
Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said a rebound in crude prices and higher US Treasury yields were likely to prompt profit-taking after the market's recent gains. Wall Street had closed sharply lower, while Asian markets showed mixed trends in early trade, he noted.
Why crude oil matters to Indian markets
India imports the bulk of its crude oil requirement from overseas. Sustained high prices therefore raise the cost of fuel and transport, feed into inflation, widen the trade deficit and add pressure on the rupee — factors that weigh on corporate earnings. Oil prices are also sensitive to geopolitics, and traders track diplomatic developments closely.
NSE makes market debut
The National Stock Exchange (NSE) listed on the bourses on Thursday, September 24, 2026. Its ₹22,569-crore initial public offering received an overall subscription of 5.71 times.
Other market data
In Asia, Japan's Nikkei 225 index quoted in positive territory, while Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded lower. US markets ended lower on Wednesday, September 23, 2026.
Foreign Institutional Investors (FIIs) bought equities worth ₹1,617.45 crore on Wednesday, according to exchange data.
In the previous session, the Sensex had climbed 299.17 points, or 0.40%, to close at 74,828.25, and the Nifty had gained 117.80 points, or 0.50%, to end at 23,446.80.
Market participants note that early-session levels are volatile and may change through the trading day. Investors are advised to rely on verified data published by the stock exchanges and to weigh their own financial circumstances before taking positions.
