Sensex fell 555 points and Nifty closed below 23,650 as rising crude prices, Middle East tensions and US interest-rate concerns pressured Indian equities.
Indian benchmark indices extended their decline on September 8, 2026, as escalating tensions in the Middle East pushed crude-oil prices close to $100 per barrel and weakened investor sentiment.
The BSE Sensex fell 555.24 points, or 0.73%, to close at 75,577.58. The NSE Nifty 50 declined 144.05 points, or 0.61%, ending the session at 23,635.10. Both indices have lost approximately 2.2% over the past seven trading sessions.
Brent crude gained around 1.4% to trade near $98.40 per barrel following reported attacks on Saudi energy facilities by Yemen’s Iran-aligned Houthi forces. Concerns about further disruption to Middle Eastern energy supplies briefly pushed international oil prices closer to the $100 mark.
Higher crude prices are particularly concerning for India because the country imports most of its oil requirements. A sustained increase can raise the import bill, weaken the rupee, increase fuel and transport costs and create broader inflationary pressure.
Eight of the 16 major sectoral indices closed lower. Private banks and financial-services stocks fell approximately 1% and 0.9%, respectively. ICICI Bank declined about 2%, while Reliance Industries and HDFC Bank lost around 1.1% each.
Defence shares, however, gained 2.5% after the Defence Acquisition Council approved procurement proposals worth approximately ₹1.10 lakh crore. The broader mid-cap and small-cap indices also finished around 0.2% higher.
The market experienced additional volatility during the Closing Auction Session used to determine final prices. The Nifty’s indicative closing level briefly fell as much as 1.8% before recovering. Traders have raised concerns that limited participation in the auction can produce unusually sharp movements on derivatives-expiry days.
Investors will continue monitoring crude prices, developments in the Middle East, foreign-fund activity and upcoming US inflation data for indications about the Federal Reserve’s next interest-rate decision.
Disclaimer: This report is for informational purposes and does not constitute investment advice.
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