India's Sensex, Nifty fall amid Middle East oil price surge

Indian stock markets fell sharply on Tuesday, July 14, 2026, as escalating geopolitical tensions in the Middle East and a surge in crude oil prices triggered a broad sell-off. The benchmark BSE Sensex plunged over 600 points to an intraday low of 77,001.58, while the NSE Nifty 50 dropped below the 24,050 mark.

The decline was driven by renewed hostilities between the United States and Iran, including reports of a third consecutive night of U.S. strikes on Iranian targets and the reinstatement of a naval blockade around the Strait of Hormuz. These actions have significantly disrupted shipping through the critical oil transit chokepoint, with vessel traffic reportedly down by nearly 60 percent compared to the previous week. Brent crude oil prices surged past $85 per barrel, reaching their highest level in about a month.

For India, a major crude oil importer, the spike in energy prices raises immediate concerns over a widening trade deficit, imported inflation, and pressure on corporate earnings. The negative sentiment was reflected in the Indian rupee, which weakened to approximately 96.1 against the U.S. dollar. Most sectors traded lower, with auto, metal, and financial stocks...