Sensex drops 852 points as Brent crude tops $103
The Indian stock market had a rough Thursday, April 23, 2026: Sensex dropped 852 points to 77,664, and Nifty slipped by 205 points to 24,173.
The main culprit? Crude oil prices shot up past $103 for Brent and $94 for WTI, thanks to rising tensions in the Middle East.
Indian sectors split as rupee weakens
Geopolitical issues, especially around the Strait of Hormuz, have tightened global oil supply and pushed prices higher.
This spooked investors: auto and PSU bank stocks fell over 2%, with IT, metals, and realty also struggling.
On the flip side, pharma and healthcare stocks actually gained over 2%, showing some resilience while most sectors took a hit.
The rupee weakened too (now at 94.12 per US dollar), as both foreign and domestic investors played it safe in this shaky environment.