Markets Under Pressure As Rising Oil Prices Weigh On Investor Sentiment
Indian equity benchmark indices opened lower on June 1, 2026, tracking mixed global cues and persistent concerns over elevated crude oil prices, which remained above the $90-per-barrel mark.
The 30-share BSE Sensex declined 322.14 points, or 0.57 per cent, to open at 73,945.20. The NSE Nifty 50 also started the session in negative territory, falling 153.45 points to 23,229.15. In the previous session, the Sensex had settled at 74,267.34, while the Nifty closed at 23,382.60.
Broader Markets Also Under Pressure
The weakness was reflected across broader market indices as well. The BSE Midcap Select Index dropped 147.33 points, while the BSE Smallcap Select Index fell 78.29 points, or 0.94 per cent, to 8,218.26.
Among Sensex constituents, technology stocks provided some support. Infosys emerged as the top gainer in early trade, rising 3.35 per cent, followed by TCS, HCL Tech and Tech Mahindra. On the losing side, Bajaj Finance led the decline with a drop of more than 2.3 per cent, while Maruti Suzuki, Adani Ports, Bharti Airtel and Eternal also traded lower.
Market breadth remained firmly negative on the NSE, with 1,553 stocks declining against 683 advancing stocks. Another 131 shares remained unchanged.
Gift Nifty signalled a cautious opening, falling 41 points to 23,400.50 compared to its previous close of 23,441.50.
Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth Rs 3,911.68 crore during the previous session. Domestic Institutional Investors (DIIs), however, remained supportive, purchasing equities worth Rs 5,109.13 crore.
According to Aakash Shah, Technical Research Analyst at Choice Equity Broking, the overall market structure remains weak as benchmark indices are trading below key moving averages, momentum indicators have turned negative, and volatility is rising.
Asian markets also presented a mixed picture. Japan’s Nikkei 225 declined 917.33 points, or 1.37 per cent, while South Korea’s Kospi traded lower. In contrast, Hong Kong’s Hang Seng gained 351.82 points, or 1.37 per cent. China’s Shanghai Composite Index was marginally lower during early trading.
Analysts believe that elevated crude oil prices, continued foreign fund outflows and uncertainty in global markets may keep investor sentiment cautious in the near term.
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