2026.04.2304:36:14UTC+00Sensex Extends Losing Streak

India’s BSE Sensex fell about 0.6% to 78,032 on Thursday, weighed down by a sharp rise in oil prices and escalating tensions in the Middle East. Brent crude traded above $100 per barrel for a fourth consecutive session after Iran seized two vessels in the Strait of Hormuz, amplifying fears of supply disruptions and renewed inflationary pressures.

Market sentiment deteriorated further after HSBC downgraded Indian equities to “underweight,” pointing to heightened risks to growth and demand in an import-dependent economy. Foreign institutional investors remained net sellers for the second straight session, offloading shares worth $221.56 million on Wednesday, which added to the downside pressure.

On the corporate front, SBI Life Insurance reported weaker earnings, while Trent posted robust quarterly growth, driving stock-specific action. Among early underperformers, Trent slipped 3.7% despite a 26% year-on-year jump in quarterly profit. Other major decliners included HDFC Bank, ICICI Bank, Reliance Industries, HCL Tech, and Vedanta, which fell between 0.5% and 1.8%, while Havells dropped 5.6%.