Indian shares decline amid rising crude prices and global risk cues

Indian shares opened lower on Thursday as elevated crude oil prices and mixed global cues dampened investor sentiment, with the Sensex and Nifty 50 slipping amid global market swings and commodity movements.

Indian shares opened lower on Thursday as investors remained wary of elevated crude prices, which continued to hover near $90 a barrel and weighed on sentiment. The Nifty 50 started the session 77 points lower at 24,359, while the Sensex fell 119 points to 77,847.42, after both benchmarks slipped in the previous session as well. India IPO reported that the broader mood was subdued before the bell, even as overseas cues were mixed.

Asian markets were stronger in early trade, with Japan’s Nikkei 225 and South Korea’s Kospi advancing, but US futures were flat to slightly weaker, offering little support to domestic equities. Moneycontrol describes the Sensex as a 30-stock benchmark and the Nifty 50 as a 50-stock gauge of India’s broader market, both of which are often used to track the direction of the country’s equity market.

Commodity moves remained in focus. Brent futures were quoted lower at $88.06 a barrel and West Texas Intermediate eased to $82.31, according to market data cited by India IPO. Gold and silver also drew attention, with domestic gold prices firming and silver extending gains, while COMEX prices for both metals were higher in overseas trade. The report said silver had also seen record levels earlier this year amid geopolitical uncertainty and heavy speculative buying.

Foreign investors were net sellers of shares worth ₹1,002.50 crore on August 12, while domestic institutions bought ₹5,841.66 crore worth of equities, provisional NSE data showed. The rupee strengthened 0.13% to 95.33 against the dollar on August 12, while the dollar index edged down to 99.94. India IPO said these cross-currents left local markets vulnerable to every move in oil, currencies and global risk appetite.