{
  "id": 13005418,
  "title": "Rising oil, weak rupee and rate fears hammer Dalal Street; VIX jumps 10%",
  "url": "https://urgent.news/2026/10/09/rising-oil-weak-rupee-and-rate-fears-hammer-dalal-street-vix-jumps-10",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-09T01:45:27.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/indian-equities-face-sharp-sell-off-sensex-and-nifty-hit-2026-lows-amid-rising-rates-and-crude-prices/articleshow/134803853.cms"
  },
  "original_language": "en",
  "account": "Mumbai experienced a significant sell-off in Indian equities on Thursday, with the Sensex and Nifty falling over 1.4% each to their 2026 lows due to concerns over higher interest rates, rising crude prices, and a weakening rupee. The BSE Sensex closed at 71,593.24, its lowest since February 2024, while the Nifty dropped to 22,231.80, its lowest since April 2025. This decline led to a loss of around ₹10 lakh crore from the market capitalization of BSE-listed companies.\n\nAdani Enterprises, JSW Steel, and ITC were among the hardest hit, with their shares falling by 5.4%, 4.5%, and 4%, respectively. Meanwhile, India's Volatility Index, or VIX, surged by 10.26%, reflecting heightened uncertainty among investors. The decline in Asian markets was also notable, with China down 0.8%, Hong Kong falling 1.4%, South Korea declining 2.7%, and Taiwan dropping 0.9%.\n\nGlobal investors are particularly concerned about rising oil prices and central banks signaling further interest rate increases. The market is grappling with a host of negative factors, including global rate hikes, a weakening rupee, high oil prices, increased IPO supply, political protests, supply chain disruptions, a below-average monsoon, lack of AI opportunities, and Foreign Portfolio Investor (FPI) selling, according to Nilesh Shah, MD of Kotak Mahindra Asset Management Co.\n\nSince Thursday's drop, the Sensex has fallen nearly 16%, and the Nifty has dropped 15% so far in 2026, making Indian stocks among the worst performers globally. The Nifty Midcap 150 and the Nifty Small-cap 250 both saw declines of 2.4% each on Thursday. So far in 2026, the Nifty Midcap 150 is down 4.3%, while the Nifty Smallcap 250 is up 4.8%. Brent crude surged 4.1% to above $104 a barrel on Thursday, driven by renewed concerns about the lingering conflict in West Asia.",
  "summary": "On Thursday, Indian equities faced a significant sell-off, leading to declines in both Sensex and Nifty. The Sensex dropped by 1,045.46 points, while Nifty fell by 371.25 points. The decline resulted in a market capitalisation loss of nearly ₹10 lakh crore. Global concerns such as elevated oil prices and interest rate increases are impacting investor sentiment. Overall, the Indian stock market…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}