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Markets tumble as oil crosses $110, sensex falls over 1,900 points

Markets opened sharply lower with Sensex plunging over 1,900 points as crude oil crossed $110 and global factors weighed on sentiment.

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Sensex

Indian stock markets opened sharply lower on Thursday, snapping a three-session gaining streak, as rising global crude oil prices and geopolitical tensions weighed heavily on investor sentiment.

Benchmark indices witnessed a gap-down opening, with the Sensex plunging over 1,900 points at the open, while the Nifty dropped more than 450 points. The decline follows reports of Iran targeting key energy infrastructure in the Gulf region, pushing Brent crude oil prices above the $110 per barrel mark.

At around 9:17 AM, the Sensex was trading at 75,235.05, down by 1,469.08 points. Meanwhile, the Nifty stood at 23,291.85, slipping 485.95 points.

Oil spike, global cues pressure equities

The surge in crude oil prices is a major concern for Indian markets, as higher oil costs can widen the current account deficit and fuel inflation. This often leads to cautious investor behaviour and triggers selling in equities.

Adding to the negative sentiment, the US Federal Reserve maintained its interest rates at current levels. Stable rates in the US tend to keep bond yields attractive, which can result in foreign institutional investors (FIIs) pulling money out of emerging markets like India.

Early indicators had already pointed to a weak start. GIFT Nifty futures were trading at 23,324, down 453 points, signalling a negative opening for domestic indices.

Expert view signals sectoral shift

According to InvestorAi’s strategic outlook, there has been a noticeable shift in market positioning towards IT large-cap stocks. The move reflects a preference for companies with stable earnings visibility, especially those earning in dollars amid a weakening rupee.

The analysis highlights that IT exporters benefit from currency depreciation, as revenues are largely dollar-denominated while costs remain in rupees. However, the outlook remains sensitive to crude prices. A sustained rise above $110 could force policy tightening and impact valuations.

Key stocks in focus

Among the top conviction picks highlighted:

  • Mphasis seen as a strong mid-cap IT play with AI and cloud exposure
  • Wipro emerging as a turnaround candidate with improving margins
  • TCS acting as a sector bellwether reflecting broader IT trends
  • PB Fintech offering a high-margin digital growth story
  • KEI Industries representing domestic infrastructure and electrification demand

What investors should watch

Market participants are closely tracking the rupee’s movement against the US dollar. A sustained breach beyond 90.5–91 levels could further support IT stocks but may also signal broader macroeconomic stress.

Additionally, crude oil prices and geopolitical developments will remain key triggers for market direction in the near term.

Entertainment

Kumkum Bhagya actor Sanchita Ugale dies by suicide near Mumbai at 22

Television actor Sanchita Ugale, known for Kumkum Bhagya and Wagle Ki Duniya, died by suicide at her residence near Mumbai. Police have launched an investigation.

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Sanchita Ugale

Television actor Sanchita Ugale, known for her appearances in Kumkum Bhagya, Wagle Ki Duniya and Dilwali Dulha Le Jayegi, died by suicide at her residence in Nalasopara East near Mumbai on June 14. She was 22.

According to police officials, the incident took place at her home in Achole village, Nalasopara East. Authorities said Ugale had locked herself inside her bedroom and was later found hanging from a ceiling fan. Family members and local residents rushed her to a hospital, where doctors declared her dead.

Police have registered an Accidental Death Report (ADR) and launched an investigation into the circumstances surrounding her death. Officials said inquiries are underway and the exact reason behind the incident has not yet been established.

Career across television, OTT and films

Ugale had built a growing presence in the entertainment industry through television, streaming projects and films. Apart from Kumkum Bhagya and Wagle Ki Duniya, she played a lead role in Dilwali Dulha Le Jayegi. She also appeared in OTT projects such as Crime Aaj Kal and Silence 2.

The actor was also associated with the film Chhaava, which contributed to her growing recognition among audiences.

Last social media post draws attention

Following news of her death, social media users shared and commented on Ugale’s final Instagram post, which had been uploaded hours before the incident. The post showed the actor in traditional attire lip-syncing to a classic Bollywood song. Fans expressed shock and grief after learning of her death.

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India News

Congress, SP send mixed signals on AIMIM’s role ahead of 2027 Uttar Pradesh polls

Congress and Samajwadi Party leaders have responded differently to questions about AIMIM’s role ahead of the 2027 Uttar Pradesh Assembly elections, highlighting ongoing discussions over opposition strategy.

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Differing responses from Congress and Samajwadi Party leaders have highlighted varying approaches within the Opposition camp regarding the possible role of the All India Majlis-e-Ittehadul Muslimeen (AIMIM) in the run-up to the 2027 Uttar Pradesh Assembly elections.

The discussion gained momentum after AIMIM chief Asaduddin Owaisi launched his party’s campaign preparations for the 2027 elections from Bahraich and reiterated that his party is open to alliances, provided it is treated with respect and as an equal partner.

Different responses from Congress and SP

Reacting to questions about a possible understanding with AIMIM, Congress leader Imran Masood said any decision on alliances would be taken by the party leadership. He also stressed that there could be no compromise with communalism.

On the other hand, Samajwadi Party leader Ram Gopal Yadav adopted a more accommodating tone, stating that anyone capable of defeating the BJP would be welcome. His remarks were viewed as leaving the door open to broader anti-BJP political cooperation.

The differing responses have drawn attention as Opposition parties continue to assess their electoral strategies ahead of the 2027 Uttar Pradesh Assembly elections.

AIMIM steps up preparations

AIMIM has begun expanding its campaign activity in Uttar Pradesh, with Owaisi launching the party’s preparations from Bahraich. The Hyderabad MP has indicated that AIMIM is willing to consider alliances but has maintained that any partnership must be based on mutual respect and equality.

The party is also working to strengthen its organisational presence in the state as it seeks a larger role in Uttar Pradesh politics ahead of the next Assembly election.

No formal alliance announced

Despite the ongoing discussion, no formal alliance or seat-sharing arrangement involving AIMIM and major Opposition parties has been announced so far.

With more than a year remaining before the 2027 Uttar Pradesh Assembly elections, political equations are expected to evolve as parties finalise their strategies and alliance plans.

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India News

Delhi dust storm brings 92 kmph winds as IMD issues red alert

Delhi witnessed a powerful dust storm with wind speeds reaching 92 kmph, prompting the IMD to issue a red alert. The storm brought rain, thunderstorms and relief from the intense heat.

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Delhi weather update

A powerful dust storm swept across Delhi on Monday, bringing strong winds, reduced visibility and a sudden change in weather conditions across the national capital. Wind speeds reportedly reached 92 kmph in some areas as dark clouds and blowing dust engulfed parts of the city. The India Meteorological Department (IMD) issued a red alert, warning residents about severe weather conditions and urging them to take necessary precautions.

The storm was accompanied by thunderstorms and rain in several parts of Delhi-NCR. The sudden weather activity provided relief from the prevailing heat but also raised concerns over potential disruptions to transport and power infrastructure. According to the weather department, strong surface winds and thunderstorms were expected to continue for several hours.

Red alert issued for severe weather

A red alert is issued when weather conditions pose a significant threat to life and property and require immediate action. The IMD advised people to remain indoors where possible, avoid weak structures, stay away from trees and electric poles, and refrain from taking shelter in open areas during the storm.

Weather officials said the intense conditions were linked to atmospheric instability over northwest India, influenced by weather systems affecting the region. Similar episodes of thunderstorms, heavy rain and strong winds have impacted Delhi-NCR in recent days.

The latest spell of severe weather is expected to bring down temperatures and offer relief from the heat. The IMD has also forecast further wet weather activity across parts of northwest India in the coming days.

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