Sensex Decline as Oil Rises

India’s BSE Sensex fell about 0.6%, or 460 points, to 75,125 on Wednesday, extending losses amid rising crude oil prices and escalating tensions in the Middle East. The Nifty 50 also declined as investors remained concerned that higher energy costs could fuel inflation, widen India’s trade deficit and weigh on economic growth. Brent crude climbed toward $100 a barrel, while the rupee remained under pressure near 95 per dollar. Foreign investors continued to sell Indian equities, adding to market pressure. IT stocks led the sell-off, with Infosys, HCLTech and Tech Mahindra among the major losers. Among stocks in focus, Coforge tumbled more than 5% after Chairman Om Prakash Bhatt resigned following concerns raised by an internal audit over the company’s board evaluation process. Other notable laggards included ICICI Bank (-0.7%), BSE Ltd. (-3.0%), IFCI Ltd. (-3.6%), HDFC Bank (-0.8%) and Reliance Industries (-0.6%).






