Stocks Tumble in Early Trade on Oil Surge
Mumbai, Apr 30 (BNP): Indian equity markets came under significant selling pressure in early trade on Thursday, as a sharp rally in crude oil prices above $120 per barrel unsettled investors and triggered risk-off sentiment.
Benchmark indices opened sharply lower, extending losses as the session progressed. The decline was driven by a combination of factors, including surging global oil prices, weak international market trends, and continued foreign institutional investor (FII) outflows from domestic equities.
Higher crude oil prices raised concerns over inflationary pressures and increased input costs for key sectors such as aviation, automobiles, logistics, and manufacturing. This led to broad-based selling across frontline stocks, with major index constituents facing downward pressure.
Investor sentiment remained cautious amid global economic uncertainty, prompting traders to reduce exposure to equities in early deals. Market analysts noted that volatility could persist in the near term if oil prices remain elevated and global cues stay weak.
