Nifty tumbled 124 points to 22,688, while the Sensex slid 460 points to 73,249, marking a third straight session of decline.
Brent crude surged past $112 a barrel, sending a chill through risk‑seeking sentiment and dampening the broader equity mood.
Market breadth was bruised: the advance‑decline ratio sat at 1:3, and 38 Nifty stocks finished in the red. The midcap index slid to a six‑month low, underscoring the breadth of the sell‑off.
Sectoral drag was led by auto and FMCG, with IT stocks pulling back as well. Bajaj Finance rebounded 4% from intraday lows, becoming the top Nifty gainer, while UltraTech Cement added 1% after a positive commentary note.
On the downside, Eternal and Swiggy slipped, and Nestle’s shares fell 3% on the day, a 6% weekly loss. KEI Industries fell 8% after a cautious margin outlook, and Oracle Financial Services Software slid 4%. HPCL’s stock is in focus ahead of its earnings report.
The market will watch HPCL’s earnings and any further moves in oil prices for clues on whether the trend will reverse or continue its descent. Investors remain wary as the indices edge toward the 20‑day moving average.