Sensex Dives 1,953 Points; Brent Crude Hits $112 After Missile Attacks on Key Energy Facilities

Domestic equity markets witnessed a bloodbath on Thursday, opening sharply lower as attacks on energy infrastructure in West Asia stoked fears of a global energy crisis.

The NIFTY 50 index began the session at 23,197.75, down 580.05 points or 2.44 per cent, while the BSE Sensex plunged 1,953.21 points or 2.55 per cent to open at 74,750.92.

The fall follows escalating conflict in the region, with Iran and Israel targeting critical energy assets.

“The US Fed held rates steady as Chairman Powell mentioned the word 'uncertainty' 7 times in his press conference. Powell spoke about the continued impact of tariffs and the incoming inflationary impulses due to the energy supply shortages created by the Iranian conflict,” Bagga added.

“He was hawkish in his conference. Indian markets are poised to open in the red in consonance with the global markets,” he said.

Sectoral indices reflected broad-based selling pressure. Nifty Financial Services declined 2.87 per cent, Nifty Private Bank dropped 3.41 per cent, Nifty Auto fell 2.03 per cent, Nifty FMCG slipped 1.10 per cent, and Nifty IT declined 1.41 per cent.

Nifty Metal was down 2 per cent, while Nifty Media saw a smaller fall of 0.84 per cent.

How Are Brent Crude Prices Impacted by Attacks on Energy Infrastructure?

Global cues further dampened investor sentiment. Brent crude surged more than 4 per cent to USD 112.17 per barrel amid concerns of prolonged supply disruptions.

Crude oil prices reacted to attacks on key facilities, including Iran’s South Pars gas field targeted by Israel and Qatar's Ras Laffan Industrial City hit by Iranian missiles.

QatarEnergy confirmed the missile strikes, adding, "Emergency response teams were deployed immediately to contain the resulting fires, as extensive damage has been caused. All personnel have been accounted for and no casualties have been reported at this time."

In commodity markets, gold prices declined, with 24 carat gold trading at Rs 1,52,026 per 10 grams, while silver dropped to Rs 2,44,756 per kilogram.

Asian markets mirrored the global downturn on Thursday. Japan's Nikkei 225 fell 2.18 per cent to 53,787, Singapore's Straits Times slipped 0.47 per cent to 4,978, Hong Kong's Hang Seng declined 1.68 per cent to 25,587, Taiwan's weighted index dropped 1.17 per cent to 33,946, and South Korea's KOSPI fell 1.55 per cent to 5,836.

US markets had set a negative tone overnight, with the Dow Jones down 1.63 per cent to 46,225, S&P 500 down 1.36 per cent to 6,624, and Nasdaq declining 1.46 per cent to 22,152.

(With inputs from ANI)