Mar 6, 2026, 11:41 GMT+7
By Bharath Rajeswaran
Reuters - Indian shares fell on Friday, led by losses in financial stocks, as investors remained cautious amid the escalating U.S.-Israeli war with Iran, which has driven oil prices higher and strangled global risk appetite.
The Nifty 50was down 0.59% at 24,616.95 and the BSE Sensexshed 0.61% to 79,530.73 as of 10:05 a.m. IST.
The conflict has stoked fears of a broader energy supply shock that could lift crude prices further, revive inflation pressures, and cloud the global growth outlook.
Asian shares inched lower, while Wall Street fell overnight and the dollar firmed as the conflict showed few signs of easing.
Brent crude!jumped 5% to a 20-month high $86.28 a barrel on Thursday, and was last trading at $84.4.
Higher oil prices are typically negative for India, the world's third-largest crude importer.
Persistent Middle East tensions are keeping crude oil prices elevated, raising concerns about renewed inflation and tighter monetary policy, resulting in investors being risk-averse, said Ponmudi R, CEO of Enrich Money.
Twelve of 16 major sectors logged losses on Friday. The small-capsand mid-capsrose 0.2% each.
Financialsand bankslost 1.1% each, dragged by the two heaviest stocks in Indian benchmarks - HDFC Bankand ICICI Bank- which fell 1.3% and 2.2%, respectively.
Meanwhile, Indian refiners are snapping up millions of barrels of prompt Russian crude to plug gaps after disruptions linked to the Strait of Hormuz, a Reuters report said, following a U.S. 30-day waiver that permits purchases of Russian oil.
Reliance Industries!rose about 2% after the news, helping limit benchmark losses. Discounted Russian crude could lower feedstock costs and potentially boost the company's refining margins.
Among other stocks, Interglobe Aviationfell 2% after J.P.Morgan flagged pressure on earnings due to headwinds from higher fuel costs and moderation in international air traffic amid the Middle East crisis.
Larsen & Toubro, which has significant exposure to the Middle East, dropped 2% and is down 7.5% this week
Sumber : Reuters
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