Indian equity markets opened sharply lower on Friday, September 11, 2026, amid rising geopolitical tensions in the Middle East and a surge in international crude oil prices, with Brent crude moving above $108 per barrel. Weak global cues were accompanied by broad-based selling in the domestic market from the opening session.
The Sensex fell around 708 points to 74,194.36 in early trade, while the Nifty 50 declined around 260 points to 23,218.10.
The sell-off was broad-based across the market. According to available data, around 1,824 stocks were trading lower, while approximately 692 stocks were in positive territory. The early-session decline therefore extended across a large number of stocks rather than being limited to selected sectors.
The rise in international crude oil prices was among the key factors behind the sharp decline in Indian equities. Brent crude crossed $108 per barrel as escalating tensions in the Middle East increased concerns over oil supplies and pushed crude prices higher.
India depends on imported crude oil for a large part of its energy requirements. Higher international oil prices can increase the country's import bill and put pressure on companies' costs as well as inflation. The sharp rise in crude prices therefore affected sentiment in the Indian equity market.
While most stocks declined, some domestic oil and gas companies benefited from the rise in crude oil prices. ONGC traded around ₹241.67, up about 1.85 percent, making it one of the major gainers during the early session.
Among other stocks, several IT companies also traded higher. Tech Mahindra gained around 1.26 percent, Infosys rose 0.84 percent and TCS advanced 0.83 percent. Wipro, Power Grid, ITC and HCL Technologies also recorded marginal gains.
Metal stocks came under significant selling pressure in early trade on Friday. Hindalco fell around 3.90 percent, making it one of the major losers, while Tata Steel declined around 2.49 percent.
Bajaj Finance, JSW Steel, Bajaj Finserv, Shriram Finance, Eicher Motors and Adani Enterprises were also under pressure. These stocks recorded initial declines of around 1.7 to 2.2 percent.
The IT sector performed better than other parts of the market during the opening session. While indices linked to metals, autos, banking and financial services declined by 1 to 3 percent, IT stocks continued to see buying.
Technology companies can benefit from dollar-denominated revenue and business from overseas markets. Against the broader market decline, several major IT stocks consequently remained in positive territory.
