18.05.202604:33:10UTC+00Sensex Falls to 6-Week Low on Oil Spike

India’s BSE Sensex fell around 1.2% to 74,357 on Monday, its lowest level since April 6, extending the previous session’s decline as a sharp rise in oil prices pressured risk appetite. Brent crude climbed above $111 per barrel following reports of attacks on energy infrastructure in the UAE and mounting geopolitical risks related to Iran. Sentiment deteriorated further after US President Donald Trump warned that “the clock is ticking” for Iran, with diplomatic efforts to ease Middle East tensions showing little progress.

Selling intensified as the rupee weakened toward record lows, heightening worries about imported inflation and potential foreign capital outflows. On the downside, Tata Steel dropped about 4% after its fourth-quarter profit missed expectations, hurt by higher raw material costs and a one-off restructuring charge at its Netherlands operations. Other notable decliners included Amber (-9.4%), Cochin Shipyard (-6.7%), and Himadri Speciality Chemical (-4.7%). In contrast, Gland Pharma jumped 12.4% after posting a 97% year-on-year increase in net profit for the March quarter.