Stock markets decline in early trade on renewed U.S.-Iran tensions, spike in crude oil prices

Benchmark indices Sensex and Nifty tumbled in early trade on Wednesday (July 8, 2026) amid renewed U.S.-Iran tensions and a fresh spike in crude oil prices.The 30-share BSE Sensex tanked 537.83 points to 77,642.89 in early trade. The 50-share NSE Nifty was down 163.55 points to 24,235.15.From the Sensex pack, Asian Paints, InterGlobe Aviation, Reliance Industries, ITC, Bajaj Finance and Mahindra & Mahindra were among the major laggards.Sun Pharma, HCL Tech, Tech Mahindra, Power Grid and ICICI Bank were the gainers.Brent crude, the global oil benchmark, quoted 2.55% higher at $76.05 per barrel.“With the renewed U.S.-Iran tensions and the consequent spike in Brent crude to $76, the market is again back in uncertain territory.

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