India’s Sensex falls 0.8% to 72,189 as oil tops $107

  • India’s BSE Sensex declined about 0.8% to 72,189 on Tuesday.
  • Brent crude rose around 1.5% above $107 a barrel, pressuring Indian equities.
  • Industrial output grew 8% year on year in August, exceeding forecasts and July’s growth.

India’s BSE Sensex fell about 0.8% to 72,189 on Tuesday, its lowest since late March and near a six-month low, extending losses from the previous session. Rising oil prices led the decline, with Brent crude up around 1.5% above $107 a barrel, raising concerns about India’s import bill, inflation and corporate margins because of its reliance on imported oil. The rupee weakened past 96 per dollar, while persistent foreign outflows and elevated U.S. Treasury yields further reduced investor appetite. The market weakness came despite stronger economic data: industrial output grew 8% year on year in August, exceeding the 6.5% forecast and July’s 7.4%, while manufacturing output growth accelerated to 9% from 8.2%. Honasa Consumer, HDFC Bank, State Bank of India, Reliance Industries and PB Fintech were among the notable decliners.

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India’s Sensex falls 0.8% to 72,189 as oil tops $107 - CoinPost Terminal