Sensex falls 0.58% and Nifty 0.56% as rupee breaks ₹96, HCL Tech and HDFC Life lead declines
Escalating Iran-related geopolitics pushed Brent above $84, weakening the Indian rupee past ₹96 and tightening India's inflation and import-cost outlook. Indian equities (Sensex/Nifty) extended losses as higher energy prices and FX stress weighed on cyclicals, while defensives outperformed. Markets are also bracing for US CPI and Fed commentary, which could shift global rates and dollar dynamics, amplifying near-term risk-off positioning.
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Geopolitical tensions involving Iran lifted Brent crude above $84 a barrel, while the Indian rupee weakened past the 96 level against the US dollar. The moves pressured India’s benchmark indices, with the Sensex and Nifty50 extending losses in afternoon trade to 0.58% and 0.56%, respectively. HCL Tech and HDFC Life were among the top drags, while defensive names such as Bharti Airtel and Cipla advanced. Investors are also watching US CPI data due this week and remarks from Federal Reserve officials.