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Indian markets open lower as fuel price hike dampens investor sentiment
Indian markets open lower as fuel price hike dampens investor sentiment
Indian markets open lower as fuel price hike dampens investor sentiment
On Friday, Indian equity markets opened down amid a national fuel price hike. The BSE Sensex fell 64.22 points, while Nifty IT gained.
Published on: May 15, 2026 10:07 AM IST ANI Share via Copy link Indian equity markets opened in the red on Friday as a nationwide hike in fuel prices and firming global crude oil rates weighed on investor sentiment, even as global markets remained focused on the ongoing summit between the U.S. and China. Newly increased fuel prices are displayed at a petrol pump in Malvan. (REUTERS) The BSE SENSEX fell 64.22 points or 0.09 per cent to 75,334.50 in early trade, while the NSE NIFTY 50 remained nearly flat with a negative bias, shedding 1.55 points to stand at 23,688.05. "The bias is cautiously bullish, but bulls first need to clear 23,790 supply, with 24,000 the larger hurdle. 23,500 is the immediate support to defend; a breach would expose 23,300," said Rajesh Palviya, Head of Research at Axis Direct. Also Read: India's wholesale inflation surges to 8.3% on oil shock, weak rupee This marginal decline follows a significant policy shift as the Centre hiked the prices of petrol and diesel by ₹3 per litre each across the country. In the national capital, petrol prices rose from ₹94.77 to ₹97.77 per litre, while diesel prices increased from ₹87.67 to ₹90.67 per litre. Similar escalations are visible in other metros, with petrol reaching ₹108.74 ( 3.29) in Kolkata, ₹103.67 ( 2.83) in Chennai and ₹106.68 ( 3.14) in Mumbai. Diesel prices in Mumbai, Kolkata and Chennai now stand at ₹93.14 ( 3.11), ₹95.13 ( 3.11) and ₹95.25 ( 2.86) per litre, respectively. On the sectoral front, performance remained mixed as the Nifty IT index led the gainers with a 1.27 per cent rise, followed by Nifty Auto at 0.93 per cent and Nifty Pharma at 0.30 per cent. Also Read: India’s crude imports fall 17% amid supply shock Conversely, selling pressure was evident in the Nifty PSU Bank index, which declined by 0.55 per cent. The Nifty Metal and Nifty Financial Services sectors also traded lower by 0.46 per cent and 0.25 per cent, respectively. Commodity markets reflected ongoing volatility as Brent Crude gained 1.10 per cent to reach USD 106.89 per barrel. WTI Crude Oil similarly rose 1.22 per cent to USD 102.41 per barrel. Meanwhile, Gold prices on the CFD markets witnessed a decline of 0.79 per cent, trading at USD 4,614.28. Global cues remained mixed overnight. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average reclaimed the 50,000 threshold, and the S&P 500 closed above 7,500 for the first time. Investors are also keeping an eye on the ongoing summit between the U.S. and China. Also Read: Is your gilt fund reflecting low returns? Understand how rising yields impact bond prices and gilt fund returns At the time of filing this report, Dow futures fell by 10 points, or 0.02 per cent. S&P 500 futures dipped 0.02 per cent, while Nasdaq 100 futures rose 0.06 per cent. "Overnight, US benchmarks struck fresh records -- the S&P 500 rose 0.77%, the Dow reclaimed 50,000 ( 0.74%), and the Nasdaq added 0.88% -- powered by Cisco's 13% jump and Nvidia's H200 chip clearance. Asian cues this morning are negative; Japan and Korea are trading in the red. GIFT Nifty at 23,734.0 is trading marginally high," Palviya added. (ANI) Bse Sensex Business Fuel Oil Price Sensex Market Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator Home/Business/Indian Markets Open Lower As Fuel Price Hike Dampens Investor Sentiment See LessIndian equity markets opened in the red on Friday as a nationwide hike in fuel prices and firming global crude oil rates weighed on investor sentiment, even as global markets remained focused on the ongoing summit between the U.S. and China.
The BSE SENSEX fell 64.22 points or 0.09 per cent to 75,334.50 in early trade, while the NSE NIFTY 50 remained nearly flat with a negative bias, shedding 1.55 points to stand at 23,688.05.
"The bias is cautiously bullish, but bulls first need to clear 23,790 supply, with 24,000 the larger hurdle. 23,500 is the immediate support to defend; a breach would expose 23,300," said Rajesh Palviya, Head of Research at Axis Direct.
Also Read: India's wholesale inflation surges to 8.3% on oil shock, weak rupee
This marginal decline follows a significant policy shift as the Centre hiked the prices of petrol and diesel by ₹3 per litre each across the country. In the national capital, petrol prices rose from ₹94.77 to ₹97.77 per litre, while diesel prices increased from ₹87.67 to ₹90.67 per litre.
Similar escalations are visible in other metros, with petrol reaching ₹108.74 ( 3.29) in Kolkata, ₹103.67 ( 2.83) in Chennai and ₹106.68 ( 3.14) in Mumbai. Diesel prices in Mumbai, Kolkata and Chennai now stand at ₹93.14 ( 3.11), ₹95.13 ( 3.11) and ₹95.25 ( 2.86) per litre, respectively.
On the sectoral front, performance remained mixed as the Nifty IT index led the gainers with a 1.27 per cent rise, followed by Nifty Auto at 0.93 per cent and Nifty Pharma at 0.30 per cent.
Also Read: India’s crude imports fall 17% amid supply shock
Conversely, selling pressure was evident in the Nifty PSU Bank index, which declined by 0.55 per cent. The Nifty Metal and Nifty Financial Services sectors also traded lower by 0.46 per cent and 0.25 per cent, respectively.
Commodity markets reflected ongoing volatility as Brent Crude gained 1.10 per cent to reach USD 106.89 per barrel. WTI Crude Oil similarly rose 1.22 per cent to USD 102.41 per barrel. Meanwhile, Gold prices on the CFD markets witnessed a decline of 0.79 per cent, trading at USD 4,614.28.
Global cues remained mixed overnight. U.S. stock futures were little changed on Thursday night after the Dow Jones Industrial Average reclaimed the 50,000 threshold, and the S&P 500 closed above 7,500 for the first time. Investors are also keeping an eye on the ongoing summit between the U.S. and China.
Also Read: Is your gilt fund reflecting low returns? Understand how rising yields impact bond prices and gilt fund returns
At the time of filing this report, Dow futures fell by 10 points, or 0.02 per cent. S&P 500 futures dipped 0.02 per cent, while Nasdaq 100 futures rose 0.06 per cent.
"Overnight, US benchmarks struck fresh records -- the S&P 500 rose 0.77%, the Dow reclaimed 50,000 ( 0.74%), and the Nasdaq added 0.88% -- powered by Cisco's 13% jump and Nvidia's H200 chip clearance. Asian cues this morning are negative; Japan and Korea are trading in the red. GIFT Nifty at 23,734.0 is trading marginally high," Palviya added. (ANI)
Source: HindustanTimes
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