{"id":329361,"date":"2026-03-09T05:22:11","date_gmt":"2026-03-09T05:22:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/329361\/"},"modified":"2026-03-09T05:22:11","modified_gmt":"2026-03-09T05:22:11","slug":"indian-shares-tumble-at-open-as-mideast-war-drives-oil-spike","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/329361\/","title":{"rendered":"Indian shares tumble at open as Mideast war drives oil spike"},"content":{"rendered":"\n<p class=\"yf-1fy9kyt\">March 9 (Reuters) &#8211; Indian shares declined sharply at the open on Monday as higher crude \u200coil prices piled pressure on the Asian country&#8217;s \u200ceconomy, stoking inflation worries and pushing up import costs in the \u200bworld&#8217;s third-largest oil importer.<\/p>\n<p class=\"yf-1fy9kyt\">Oil prices surged about 26% in early trade to their highest since July 2022.<\/p>\n<p class=\"yf-1fy9kyt\">The Nifty 50 slid 2.38% at 23,868.05 and the BSE \u200cSensex shed 2.36% \u2060to 77,056.75 as of 9:15 a.m. IST.<\/p>\n<p class=\"yf-1fy9kyt\">All 16 major sectors logged losses at the \u2060open. The broader small-caps and mid-caps fell about 1.8% each.<\/p>\n<p class=\"yf-1fy9kyt\">Top private lenders HDFC Bank and ICICI Bank dropped \u200b3.7% and \u200b3.1%, respectively, while oil-to-telecom \u200bconglomerate Reliance Industries lost \u200c2.1%.<\/p>\n<p class=\"yf-1fy9kyt\">Other Asian stocks fell 4.7%, while Wall Street and European futures also slid, as the inflationary shock from surging crude prices threatened to harden or push up interest rates worldwide. Safe-haven demand kept the \u200cU.S. dollar firm. [MKTS\/GLOB]<\/p>\n<p class=\"yf-1fy9kyt\">Iraq and Kuwait have \u200bbegun cutting oil output, adding \u200bto earlier liquefied \u200bnatural gas reductions from Qatar, as \u200cthe war blocks shipments from \u200bthe Middle East.<\/p>\n<p class=\"yf-1fy9kyt\">Brent \u200bcrude jumped as much as 26.4% to $117.16 a barrel, and was up 23% at $114.08 by 9:15 \u200ba.m. IST. [O\/R]<\/p>\n<p class=\"yf-1fy9kyt\">(Reporting \u200cby Bharath Rajeswaran, Vivek Kumar M in Mumbai \u200band Kashish Tandon in Bengaluru; Editing by Eileen \u200bSoreng and Ronojoy Mazumdar)<\/p>\n","protected":false},"excerpt":{"rendered":"March 9 (Reuters) &#8211; Indian shares declined sharply at the open on Monday as higher crude \u200coil prices&hellip;\n","protected":false},"author":2,"featured_media":329362,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,2382,85,46,49995],"class_list":["post-329361","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-crude-oil-prices","tag-il","tag-israel","tag-reliance-industries"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/329361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=329361"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/329361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/329362"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=329361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=329361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=329361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}