Nifty 50 fell 97 points (0.40%) to close at 23,995.70, slipping below the 24,000 mark again, while the Sensex dropped 417 points (0.54%) to settle at 76,886.91.
Nifty MidCap gained 0.28%
Nifty SmallCap rose 0.42%
Impact On The Stock Market
Sectoral moves told an interesting story.
Banking stocks were under pressure, with:
Nifty PSU Bank underperforming
Nifty Bank also lagging
Rising oil often raises concerns around inflation, rates and economic growth, which tends to weigh on financials.
Meanwhile, there was strength in:
Nifty Oil & Gas
Nifty Metal
| Sector/Index | Performance |
| IT & BPM sector | -0.68% |
| Healthcare sector | -0.12% |
| Oil & Gas sector | 1.55% |
| Real estate sector | -0.41% |
| PSU Bank in India | -2.15% |
Top gainers today
| Company | Share Price (in ₹) | Change % |
| ONGC | 301.30 | 5.39 |
| Adani Enterprise | 2,412.40 | 3.90 |
| Coal India | 467.00 | 3.20 |
| Reliance | 1,388.90 | 1.69 |
| Nestle | 1,440.00 | 1.60 |
Top losers today
| Company | Share Price (in ₹) | Change % |
| Axis Bank | 1,289.00 | -2.66 |
| HCL Tech | 1,196.00 | -2.62 |
| Interglobe Aviation | 4,442.40 | -2.60 |
| Maruti Suzuki | 12,892.00 | -2.50 |
| Shriram Finance | 953.25 | -2.20 |
Market aftermath: Impact on stocks
Eternal (Zomato): Strong earnings support sentiment
Eternal (formerly Zomato) stood out after reporting a strong earnings beat, with the stock ending 1.1% higher at ₹258.3 after recovering sharply from intraday lows.
Key highlights:
- Profit jumped 71% YoY to ₹174 crore
- Revenue surged 196% to ₹17,292 crore
- Blinkit turned EBITDA positive at ₹37 crore
Blinkit remained a major growth driver, with 95% growth in net order value, 2,243 dark stores, and 27.2 million monthly transacting users, reinforcing confidence in quick commerce-led growth.
Maruti Suzuki: Growth strong, margins in focus
Maruti Suzuki reported mixed Q4 results, with strong revenue growth but pressure on profitability.
- Revenue rose 28.2% to ₹52,462 crore
- Net profit fell 6.5% to ₹3,659 crore
- Final dividend announced at ₹140 per share
Higher raw material costs and weaker non-operating income impacted margins, which kept investor sentiment cautious despite healthy top-line growth.
Airline stocks under pressure as fuel costs rise
Aviation stocks remained under stress as rising crude prices pushed up fuel costs.
- IndiGo fell over 2%
- SpiceJet dropped nearly 4%
With aviation turbine fuel costs reportedly up ₹75 per litre, and fuel accounting for nearly 60% of operating costs, concerns over profitability weighed heavily on airline stocks.
Crude oil
Crude oil remained the biggest market overhang, with supply concerns keeping prices elevated.
- Brent crude futures traded at $102.63, up 0.92%
- WTI rose to $97.42, up 1.09%
- MCX crude traded above ₹9,217
Oil prices stayed firm after reports suggested uncertainty around the US-Iran proposal to reopen the Strait of Hormuz, while supply disruption fears remained unresolved.
Elevated crude continues to raise concerns around:
- Inflation risks
- Higher import costs
- Pressure on corporate margins
- Slower growth prospects for oil-sensitive sectors
For Indian markets, crude remains the key variable investors are watching.
Conclusion
Today’s market action showed that crude oil remains the dominant driver of sentiment.
While broader markets showed resilience, pressure on benchmark indices, banking stocks and airlines highlighted how rising oil prices are beginning to impact sectoral positioning.
The bigger concern is not just that oil is elevated—but how long it stays there.
If crude remains above $100, inflation risks and earnings pressure could weigh further on markets.
For investors, the message is clear: stay selective, watch global cues closely, and keep an eye on oil—because right now, it is setting the tone for markets.
