Indian stock markets extended losses for the second consecutive session on Monday, June 8, 2026, as weak global cues and surging oil prices weighed heavily on investor sentiment. The 30-share BSE Sensex tumbled 719.08 points, or 0.97%, to close at 73,524.26. During the intraday trade, the benchmark index dived 924.4 points, or 1.24%, to a low of 73,318.94.
Market Performance
The broader Nifty of the National Stock Exchange also witnessed a sharp decline, mirroring the negative trend. The sell-off was broad-based, with losses across most sectoral indices. Analysts attributed the downturn to a combination of global factors, including concerns over interest rate hikes by major central banks and geopolitical tensions that have pushed crude oil prices higher.
Impact of Oil Prices
Rising oil prices have added to inflationary pressures, raising fears that central banks may maintain a hawkish stance. This has led to capital outflows from emerging markets like India. The rupee also weakened against the dollar, adding to the woes of import-dependent sectors.
Global Cues
Asian markets traded lower following a weak close on Wall Street last week. European markets also opened in the red. Investors are closely watching the upcoming decisions by the US Federal Reserve and other central banks.
Market experts advise caution in the near term, suggesting that volatility may persist until there is clarity on the interest rate trajectory and geopolitical developments. However, they also note that the long-term fundamentals of the Indian economy remain strong.
