Sensex Falls 134 Points And Nifty Slips Below 22,600 As Rising Crude Oil Prices And West Asia Tensions Weigh On Investors

Mumbai: Indian stock markets opened on a weak note on Monday, October 26, as elevated crude oil prices and ongoing geopolitical tensions in West Asia weighed on investor sentiment. Selling pressure in IT stocks further dragged down the benchmark indices.

The BSE Sensex opened at 72,990.04, falling 133.79 points or 0.18 per cent. The NSE Nifty 50 started trading at 22,524.40, declining 75.60 points or 0.33 per cent. Both indices extended their losses shortly after opening, reflecting continued caution among investors.

Crude Oil Prices Pressure Markets

Brent crude oil traded at USD 114.19 per barrel amid concerns over energy supply disruptions in West Asia. V K Vijayakumar, Chief Investment Strategist at Geojit Investments, said crude prices remaining near USD 115 could restrict any meaningful stock market recovery. He advised investors to focus on fundamentally strong stocks available at attractive valuations rather than short-term index movements.

IT Stocks Lead Market Decline

Most sectoral indices traded lower during early trading. The Nifty IT index declined 2.39 per cent, while Nifty Realty slipped 0.92 per cent. Auto, FMCG and PSU banking stocks also witnessed selling pressure. However, media, pharmaceutical and private banking stocks showed relative resilience.

Top Gainers And Losers

Kotak Mahindra Bank, Dr Reddy's Laboratories, Max Healthcare, Sun Pharma and Axis Bank emerged among the early gainers. Shriram Finance, Infosys, HCL Technologies, Tech Mahindra, Bajaj Finance and NTPC were among the major losers.

Asian Markets Show Mixed Trends

Asian markets traded mixed, with Japan's Nikkei declining 0.61 per cent and South Korea's KOSPI falling 1.40 per cent. Meanwhile, Hong Kong's Hang Seng gained 0.46 per cent. Gold prices rose 0.29 per cent to ₹1,42,431 per 10 grams, while silver advanced 0.67 per cent to ₹1,97,028 per kg.