Stock markets tumble in early trade as crude oil prices hit $100 per barrel mark

Market benchmark indices Sensex and Nifty tumbled in early trade on Friday (July 24, 2026) as crude oil prices crossed $100 per barrel mark amid escalating geopolitical tensions in the West Asia. The 30-share BSE Sensex tumbled 512.07 points to 75,869.38 during initial deals. The 50-share NSE Nifty declined 153 points to 23,713.60.

From the Sensex pack, InterGlobe Aviation, Eternal, Bharti Airtel, Infosys, Bajaj Finance and Trent were among the major laggards. InterGlobe Aviation slipped over 2% after IndiGo reported a ₹238 crore net loss for the three months ended June, as higher fuel prices and the West Asia conflict resulted in turbulence for the country’s largest airline. InterGlobe Aviation is the parent of IndiGo.

IT services company Infosys declined over 1% after it tempered the upper end of its full-year revenue forecast to between 1.5% and 3% amid continued macroeconomic uncertainty. HCL Tech, Tech Mahindra, Tata Consultancy Services and Sun Pharma were the winners.

Brent crude, the global oil benchmark, was quoted 0.03% lower at $100.7 per barrel. “The total uncertainty and high volatility in markets continues without any signs of immediate respite. The attack on Saudi tankers by the Iran-backed Houthis in the Red Sea is the main reason for the recent sharp spike in Brent crude to about $100. Such a high price is bound to revive India’s Balance of Payments concerns,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,999.23 crore on Thursday (July 23, 2026), according to exchange data. In Asian markets, South Korea’s KOSPI tanked 5.56%. Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were also trading lower. U.S. markets ended lower on Thursday (July 23, 2026).

On Thursday (July 23, 2026), the Sensex declined 363.66 points, or 0.47%, to settle at 76,391.39. The Nifty dipped 126.65 points, or 0.53%, to end at 23,869.60.