FX.co ★ Sensex Halts Decline Amid Oil, Geopolitical Risks

India’s BSE Sensex traded almost flat around 74,732 on Thursday, pausing its recent slide after having fallen to its lowest level in nearly three months. Sentiment remained fragile as escalating tensions in the Middle East kept Brent crude above $100 a barrel, stoking worries about India’s import bill, inflation, economic growth, and corporate profit margins. The rupee weakened to about 95.10 per U.S. dollar on Wednesday despite intervention by the Reserve Bank of India.

Energy shares lent some support to the market, with ONGC rising 2.0% and Oil India gaining 2.4% as higher crude prices improved the outlook for upstream producers. Shakti Pumps surged 10.4% after winning a ₹235.92 crore order to supply 10,000 solar pumps. Among Sensex constituents, Axis Bank, Bajaj Finserv, and Larsen & Toubro were also early gainers. Overall, investors stayed cautious ahead of U.S. inflation data and the Federal Reserve’s September policy meeting.