FX.co ★ Sensex Slides to 3-Month Low as Oil Surges

India’s BSE Sensex fell about 1.0%, or 710 points, to 74,188 on Friday, pressured by a sharp rise in crude oil prices, persistent foreign fund outflows, and escalating tensions in the Middle East. The Iran-aligned Houthi seizure of Yemen’s port of Mocha stoked fears of further disruptions to Red Sea shipping, while traffic through the Strait of Hormuz remained constrained.

Brent crude advanced toward $109 a barrel as disruptions along key maritime trade routes heightened concerns over global energy supplies, raising the risk of a higher import bill for India and renewed inflationary pressures. The rupee stayed under strain after earlier weakening to 95.44 per dollar, and rising US Treasury yields further reinforced the risk-off sentiment.

Shares in finance, producer manufacturing, and non-energy mineral sectors led the declines. Among major losers were HDFC Bank (-2.5%), BSE Ltd. (-3.2%), Tata Steel (-2.3%), and Bajaj Finance (-2.2%). In contrast, IT stocks provided some support to the index, with HCLTech (+1.2%), Tech Mahindra (+1.0%), and Infosys (+0.6%) ending in positive territory.