The benchmark indices recorded steep losses in early trading. The BSE Sensex dropped more than 800 points, while the Nifty slipped over 250 points. Investors rushed to sell shares amid fears of economic uncertainty and global instability. Banking, IT, and automobile stocks faced strong selling pressure during the session. As a result, investors lost thousands of crores in market value within a short time.

Meanwhile, the Indian rupee also weakened sharply against the US dollar. The currency fell to around ₹96.32 per dollar, marking a new all-time low. Analysts say rising crude oil prices and increased demand for the dollar pushed the rupee down further. If the trend continues, import costs may rise and inflation could increase in the coming months.

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The benchmark BSE Sensex dropped 1,312 points to close at 76,015, while the Nifty 50 declined 360 points to end at 23,815. Investors reacted cautiously to global tensions and higher oil prices. The Sensex falls 1300 points marked one of the sharpest single-day drops in recent weeks.

Market sentiment weakened after Narendra Modi urged citizens to reduce fuel consumption and postpone non-essential spending like gold purchases and foreign travel. Investors interpreted the remarks as a sign of pressure on India’s import bill and foreign exchange reserves.

At the same time, crude oil prices surged due to tensions in West Asia, increasing inflation fears and affecting energy-dependent economies like India. As a result, several sectors including auto, oil and gas, and consumer stocks saw sharp declines during the session.

Analysts say markets may remain volatile if global tensions and oil prices continue to rise.

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