Indian shares declined for the fifth straight session on Monday, weighed down by rising crude oil prices and energy-related concerns, with the Nifty 50 and Sensex closing lower amid mixed sector performances.
Indian shares fell for a fifth straight session on Monday as higher crude prices kept pressure on sentiment, with the Nifty 50 and Sensex both finishing lower. The Nifty 50 closed at 24,287.65, down 78.35 points, while the Sensex ended at 77,728.16, off 281.09 points, according to market data cited in the report.
The weakness came even as the market recovered from intraday lows, suggesting investors are still testing whether the recent oil-driven sell-off has further to run. Vinod Nair of Geojit Investments said energy-related input cost pressure is shaping near-term sentiment, though he noted that stronger-than-expected earnings in the latest quarter, helped by pricing actions and volume growth, could still support upgrades in the months ahead. Hariselvan Radhakrishnan of HST Wealth said crude remains the key concern for Indian equities, given the country’s reliance on imported oil.
Sector moves were mixed. Technology shares were the weakest pocket, while metals, private banks and media gained. Among Nifty 50 constituents, Hindalco, Tata Steel, HDFC Life, ONGC, Axis Bank and Larsen & Toubro were among the better performers, while HCLTech, Infosys, Sun Pharma, TCS and Nestle India were among the main laggards.
Brent crude rose to $89.42 a barrel, adding to worries that higher energy costs could feed through to company margins and inflation expectations. In contrast, most other Asian markets ended higher, with gains in Japan, Hong Kong, Singapore and Taiwan, underlining the relative pressure on Indian equities from oil prices.
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