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Indian Equities Extend Losses on Thursday as Banking Sell-Off, Crude Oil Surge Weigh

-- Indian benchmark indices declined sharply on Thursday as selling in banking stocks and higher crude oil prices dragged the market lower.

The BSE Sensex fell 852.49 points, or 1.1%, to close at 77,664.00, while the NSE Nifty 50 dropped 205.05 points, or 0.8%, to settle at 24,173.05.

Sentiment remained weak amid rising tensions in the Middle East and uncertainty around U.S.-Iran talks. Reports of fresh maritime incidents and lack of clarity on the next round of negotiations kept investors cautious despite an extension of the ceasefire.

Union Bank of India (NSE:UNIONBANK, BOM:532477) declined over 7% after reporting a rise in fiscal Q4 profit to 55.0 billion rupees from 50.1 billion rupees a year earlier.

Cipla (NSE:CIPLA, BOM:500087) gained nearly 6% after its subsidiary received U.S. FDA approval for Albuterol Sulfate Inhalation Aerosol. The product is expected to be launched in the first half of fiscal 2027.

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