{
  "id": 10423946,
  "title": "Crude Above $107 Adds To Market Jitters, Sensex Plunges 1,124 Points As Nifty Drops 1.56% And PSU Banks Sink",
  "url": "https://urgent.news/2026/09/28/crude-above-107-adds-to-market-jitters-sensex-plunges-1-124-points-as",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T10:31:03.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/crude-above-107-adds-to-market-jitters-sensex-plunges-1124-points-as-nifty-drops-156-and-psu-banks-sink"
  },
  "original_language": "en",
  "account": "Mumbai witnessed a sharp decline in Indian stock markets on Monday as soaring crude oil prices, rising US bond yields, and a depreciating rupee triggered widespread selling across sectors. State-owned banks bore the brunt of the losses, while a mere two stocks on the Nifty 50 index managed to close higher. The Nifty 50 lost 360.25 points, or 1.56%, to reach 22,780.25, whereas the BSE Sensex plummeted by 1,124.02 points, or 1.52%, to close at 72,771.72. The impact of the sell-off extended beyond banking, with the Nifty PSU Bank index falling by more than 3.20%, and the Realty sector shedding 2.32%. Oil and Gas, Metal, Auto, and FMCG sectors also experienced declines, with Oil and Gas dropping by 1.97%, Metal shedding 1.90%, Auto falling 1.74%, and FMCG slipping 1.38%. However, IT saw a minimal dip of 0.09%. The Sensex experienced a decline of over 1,000 points, and the Nifty slipped below 22,900 as oil prices and global bond yields unsettled the markets. Among Nifty stocks, Dr Reddy’s Laboratories and Infosys emerged as the sole gainers. Jio Finance, Adani Enterprises, TMPV, Tata Consumer Products, and Bajaj Auto were among the biggest losers. The surge in crude prices surpassed the 3% mark, reaching $107.88 per barrel. This increase in crude costs exacerbates India's import bill and potentially intensifies inflationary pressures and the rupee's decline. Analysts attribute the market sell-off to a blend of global pressures, citing Brent crude's jump to $107.88, US 10-year Treasury yields nearing 5.2%, and the rupee nearing ₹96 per dollar. These factors heighten concerns about rising import costs and foreign fund flows. Vikram Kasat of PL Capital emphasized that persistent strength in crude or additional foreign investor selling could prolong market volatility. A decline in geopolitical tensions, oil prices, or bond yields might aid in stabilizing the markets. Sensex and Nifty experienced a sharp drop at the opening bell, with global headwinds keeping investors on edge. Ventura’s N S Ramaswamy noted that Brent crude had immediate resistance at $108–109, with a sustained rise beyond that range potentially driving prices towards $112 and $115. The Metal sector faced losses, and Asian markets exhibited mixed performances. Gold declined by more than 2.5%, reaching ₹1,47,100 per 10 grams, while silver dropped 3.25%, settling at ₹2,26,988 per kg. Japan’s Nikkei decreased by 0.20%, and South Korea’s KOSPI lost 2.77%. Singapore’s Straits Times gained 0.31%, and Hong Kong’s Hang Seng edged up by 0.47%.",
  "summary": "Mumbai: Indian stock markets closed sharply lower on Monday as surging crude oil prices, elevated US bond yields and a weaker rupee sparked broad selling across sectors. PSU banks led the decline, while only two Nifty 50 stocks finished higher. The Nifty 50 fell 360.25 points, or 1.56%, to 22,780.25. The BSE Sensex dropped 1,124.02 points, or 1.52%, to close at 72,771.72. Selling spread beyond…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hindu BusinessLine",
        "title": "Sensex today | Stock Market Highlights: Sensex tanks 1,124 points, Nifty ends below 22,800",
        "url": "https://urgent.news/2026/09/28/sensex-today-stock-market-highlights-sensex-tanks-1-124-points-nifty",
        "published": "2026-09-28T11:10:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}