Nifty50 and Sensex fall sharply as crude oil climbs 1%

KUALA LUMPUR, 10 AUGUST 2026 —

The Nifty50 lost 0.27% to 24,570.65 while the Sensex fell 0.58% to 78,499.17 as Brent crude oil futures rose 1.02% to $83.33 a barrel.

Traders said renewed Middle East risks and expectations of stronger US payrolls data kept Indian equities under pressure, according to market-tracking services.

After Thursday’s close, when the Sensex rose 0.48% to 78,954.76 and the Nifty gained 0.05% to 24,636.00, losses accelerated within the first two hours of trade. At that point the Sensex was down 474.60 points, or 0.60%, to 78,480.16, while the Nifty fell 89.30 points, or 0.36%, to 24,546.70.

The decline deepened after US President Donald Trump said the Strait of Hormuz conflict could end “pretty soon,” yet crude oil prices continued to climb. Brent futures added $0.84 to $83.33, extending Thursday’s $3-plus rally, while West Texas Intermediate gained $0.69 to $77.98.

Analysts said the move reflected caution ahead of US employment data due before the New York open. Gift Nifty, the Singapore-traded SGX Nifty, was 0.38% lower at 24,655, pointing to a negative open on Dalal Street.

Domestic equities had ended Thursday on a mixed note, with the Sensex outperforming the Nifty. Reliance Industries and ICICI Bank were among the heavyweights that supported the Sensex, while broader gains stayed muted due to lingering oil-price worries.

The Reserve Bank of India’s neutral policy stance and upward revision to GDP growth also provided intermittent support. The central bank lifted its FY25 GDP forecast to 6.7% while trimming inflation to 5%, but warned future decisions would depend on incoming data.

Foreign fund flows remain a key swing factor. On Thursday the rupee weakened 16 paise to 95.24 per US dollar, pressured by a firmer greenback and higher Treasury yields. Forex traders said softer crude prices limited the decline, but warned a rebound in the dollar or oil could pressure the currency further.

In Asia, regional equities were mixed. Japan’s Nikkei fell 0.9%, South Korea’s KOSPI slipped 0.5% and MSCI’s Asia-Pacific ex-Japan index was down 0.4% on the week. China’s CSI 300 rose 0.2%.

Traders will watch the US non-farm payrolls print for cues on the Federal Reserve’s next rate move. Consensus expects an increase of 80,000 jobs and an unchanged unemployment rate of 4.2%.

Related: Federal Reserve