On Thursday, Indian benchmark indices continued their downward trajectory, influenced by a notable rise in oil prices, specifically Brent crude surpassing $100 per barrel. Initially, the Nifty50 index opened 1.22% lower, declining by 299.45 points to reach 23,567.15. The Sensex similarly opened down 1.27%, falling by 972.99 points to stand at 75,890.72. Despite a temporary recovery observed around noon, which saw some losses mitigated, the market ended up undergoing another substantial sell-off leading to further declines before the trading day concluded. By 3:00 PM, the Nifty50 had rebounded slightly, trading down by 0.85% or 204.35 points at 23,662.80, while the Sensex reflected a decline of 1.17% or 900.38 points at 75,963.33.
Additionally, overnight trends indicated a slide in Dow futures by 500 points, coinciding with a strengthening of the US dollar. The previous day was marked by significant losses, with the Sensex plummeting by 1,342.27 points, or 1.72%, to close at 76,863.71, and the Nifty 50 experiencing a decline of 394.75 points, or 1.63%, settling at 23,866.85. This suggests a volatile market influenced by international cues and rising commodity prices.
