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Sensex, Nifty sink nearly 2 pc on surging crude oil prices, West Asia turmoil

Mumbai, Mar 9 (PTI) Equity benchmark indices Sensex and Nifty nosedived nearly 2 per cent on Monday as soaring crude oil prices and weak global trends due to the worsening situation in West Asia triggered a sharp sell-off in the stock market. Besides, unabated foreign fund exodus and the weakness in the rupee against the US dollar weighed heavily on investors’ sentiment, traders said. The 30-share BSE Sensex tanked 1,352.74 points, or 1.71 per cent, to settle at 77,566.16, registering its second day of decline. During the day, the benchmark crashed 2,494.35 points, or 3.16 per cent, to 76,424.55. A

Oil soars 25%, gold drops as Iran war jolts global commodity markets

Oil soars

SINGAPORE, March 9 (Reuters): Oil soars surged around 25% on Monday to their highest since mid-2022, with Brent on track ‌for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies, boosted the dollar and dampened hopes of interest-rate cuts. Agriculture markets, led by edible oils, rose as they took their cue from oil prices due to the extensive use ​of vegetable oils in making biofuels. Aluminium firmed on supply worries even as other metals faced headwinds from ​a stronger dollar. “The violent reaction stems from the markets seeing no obvious offramp in

Indian refiners tumble as crude surges on widening Iran war

A worker stands next to a machine at an Indian Oil fuel station in New Delhi, India, March 6, 2026. REUTERS/Bhawika Chhabra

March 9 (Reuters): Shares of Indian refiners slumped on Monday, as the widening U.S.-Israeli war with Iran propelled ​Brent crude prices toward $120 per barrel – a near four-year high – threatening their ‌near-term earnings. State-run Indian Oil (IOC.NS), dipped 6.6%, Hindustan Petroleum (HPCL.NS), slid 7.5% and Bharat Petroleum (BPCL.NS), dropped 7.1%, and were headed for their steepest falls in more than ​a year.Reliance Industries (RELI.NS), lost 2%. Brent crude soared as ​much as 26.4% to $117.16 a barrel and was ⁠last up 23% at $114.08 by 9:15 a.m. IST. UBS said ​oil marketing companies are “negatively leveraged” to the

Nepal’s vote count puts ex-rapper Balendra Shah’s party ahead in two-thirds of seats

KATHMANDU, March 6 (Reuters) – The party of Nepali rapper-turned-politician Balendra Shah was ahead ‌on Friday in more than two-thirds of seats where leads were available in general elections, outpacing rivals, including the former prime minister ousted in last year’s uprising. Shah, 35, the former mayor of Kathmandu, the capital, has dominated ​the race to become prime minister during the campaign, gaining near-rockstar like fame on ​social media across the Himalayan nation in the wake of the youth-led uprising. “I ⁠voted for Rastriya Swatantra Party because Balen is there,” said Deepak Adhikari, 33, after voting ​for Shah’s party in Kathmandu

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