08.07.202604:31:56UTC+00Sensex Extends Losses as Higher Oil Prices Weigh

India’s BSE Sensex slipped 0.7% to 77,609 on Wednesday, extending the previous session’s decline, as rising crude oil prices and mounting geopolitical tensions in the Middle East weighed on risk sentiment. Oil prices advanced after renewed friction between the United States and Iran rekindled worries over possible supply disruptions. Broader risk appetite also softened, with Asian equities mirroring overnight losses on Wall Street.

Investors stayed focused on the approaching earnings season, with Tata Consultancy Services set to release its results, while technology stocks drew additional attention amid reports that Chinese AI startup DeepSeek could lessen global dependence on major chipmakers. On the corporate front, HCLTech remained under scrutiny over the progress of a recent acquisition integration, and Orchid Pharma drew interest after licensing an antibiotic in Russia.

Early notable decliners included South Indian Bank (-9.1%), Hindustan (-3.7%), Cochin Shipyard (-2.6%), Reliance Industries (-1.9%), InterGlobe Aviation (-1.8%), and State Bank of India (-1.1%).