India’s Sensex falls as oil prices and Middle East tensions weigh

  • BSE Sensex fell about 0.6% to 75,125 on Wednesday after declining 0.7% to 75,577.6 on Tuesday.
  • Brent crude moved toward $100 a barrel while the rupee stayed near 95 per dollar, raising risks to inflation, India’s trade deficit and growth.
  • Information technology shares led Wednesday’s losses, while Coforge dropped more than 5% after Chairman Om Prakash Bhatt resigned following internal-audit concerns.

India’s BSE Sensex fell about 0.6%, or 460 points, to 75,125 on Wednesday, extending a two-session decline after Tuesday’s 0.7% drop to 75,577.6 and reaching its lowest level since June. The Nifty 50 also declined as Brent crude approached $100 a barrel, the rupee remained near 95 per dollar and escalating Middle East tensions heightened concerns about inflation, India’s trade deficit and economic growth. Foreign investors continued selling Indian equities, with information technology shares leading Wednesday’s losses, while Coforge fell more than 5% after Chairman Om Prakash Bhatt resigned following internal-audit concerns about the company’s board evaluation process. Defense stocks had outperformed Tuesday after preliminary approval for about $11 billion in military purchases.

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