Indian markets face selling pressure:Oil prices surge to 4-month high as West Asia tensions mount

The Indian stock market witnessed a sharp decline today. The benchmark BSE Sensex plunged between 400 to 700 points, trading in the range of 74,200 to 74,500. Similarly, the NSE Nifty 50 shed 150 to 250 points, trading near the 23,250–23,350 level. Realty and metal stocks led the losses in today’s session. Crude Oil Surges Past $108/Barrel
Driven by the ongoing Middle East conflict and attacks on cargo ships in the Red Sea, crude oil prices have surged to $108 per barrel. Since India imports a major portion of its oil, this spike poses a direct threat of rising import bills and higher inflation. Record Spike in US Bond Yields: The US 10-year Treasury yield climbed past 4.94%. Higher risk-free returns in the US are prompting foreign investors to pull capital out of emerging markets like India. FII Selling Pressure: Foreign Institutional Investors (FIIs) net sold shares worth ₹438 crore on September 10. Although Domestic Institutional Investors (DIIs) attempted to support the market through buying, global headwinds proved too strong. Asian Markets Trade Lower Today US Markets Closed Lower on September 10 Institutional Activity: DIIs Buy Shares Worth ₹4,451 Crore in 7 Days (₹ in Crores) Previous Session Recap (September 10) Prior to today’s fall, the domestic stock market closed in the green on September 10. The Sensex ended 138 points higher at 74,903, while the Nifty gained 46 points to close at 23,478. Banking and media stocks saw the maximum buying interest during yesterday’s session.