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5d ago

Sensex Plunges 1,000 Points as Oil Tops $105 After Trump Rejects Iran Offer

Higher crude costs threaten a wider trade gap, pressuring the rupee.

Image
People work and rest near an electronic stock board showing Japan's Nikkei index in an office building Monday, May 11, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A man sweeps in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 11, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 11, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

Overview

  • Indian stocks fell Monday after oil jumped near $105 a barrel when President Trump rejected Iran’s peace response, with the Sensex down about 1,000 points and the Nifty slipping below 23,900.
  • The rupee weakened to about 94.90 per US dollar in early trade, and India VIX rose close to 12 percent, signaling sharper day-to-day swings.
  • Foreign investors added to the pressure, selling roughly Rs 4,110.6 crore of equities on Friday, according to NSE provisional data.
  • Banks, consumer durables, aviation and travel stocks led declines, while information technology and pharmaceutical shares showed relative resilience.
  • Because India imports most of its oil, higher crude can widen the current account deficit and stoke inflation, so traders are watching crude moves, ongoing Q4 earnings and upcoming inflation readings for direction.