Rising crude prices, geopolitical anxiety and weaker global risk appetite pushed the Sensex to a fourth consecutive fall, leaving the benchmark down 2.15% for the holiday-shortened week.
Indian equities remained under pressure on Friday as renewed concern over West Asia, firmer crude oil prices and a weaker risk appetite across global markets pushed investors towards the exits. The benchmark Sensex fell for a fourth straight session, extending a week in which it dropped more than 1,600 points, while the value of BSE-listed companies shrank by about ₹20.79 lakh crore over the four trading days.
According to the market close cited by Aaj Tak, the Sensex ended the session down 125.56 points, or 0.17%, at 73,123.83. That left the index with a weekly loss of 2.15% in a holiday-shortened week. The Indian Express also reported that the broader sell-off came as traders reacted to a sharp jump in crude, rising inflation expectations and higher bond yields, with the Nifty also lower amid the same pressures.
The immediate trigger was the surge in energy prices. Brent crude climbed to about $116.73 a barrel, a five-month high, as fears mounted that escalating tensions in West Asia could disrupt supply. Higher oil prices matter more for India than for many other large economies because the country imports most of its crude, which means an oil shock can feed quickly into the trade deficit, fuel costs and broader inflation.
Market strategists said the unease was not limited to energy. Siddharth Khemka of Motilal Oswal Financial Services told Aaj Tak that geopolitical strains and expensive crude could keep Indian shares under pressure. Ankur Puj from Equirus Wealth said weakness in US equities, a softer rupee and firmer US bond yields were also weighing on sentiment, making investors less willing to take risk in domestic markets.
The damage was broad, even if a handful of heavyweights managed to stay in positive territory. Tata Steel and Adani Ports were among the worst performers in the Sensex pack, while gains in shares such as Reliance Industries, Larsen & Toubro, Tata Consultancy Services and ICICI Bank helped limit some of the damage. Rediff reported that the weakness was also widespread across sectors, with financial, consumer and technology stocks coming under selling pressure as the oil rally intensified.
Attention now turns to what might steady markets next week. Investors are watching the listing of Jio Platforms on October 28, after its ₹30,213 crore offering was subscribed 22.19 times. They are also looking ahead to the Federal Reserve’s policy meeting on October 27-28, along with US labour and growth data, the Bank of Japan’s rate decision and a busy round of quarterly results from companies including Paytm, Tata Consumer, Larsen & Toubro, Maruti Suzuki, Hindustan Unilever, Adani Ports, Trent, Sun Pharma and BEL. If crude eases, the rupee firms and foreign investors return, traders say the market could stabilise; if not, the current slide may continue.
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