India Stocks: Indian shares open lower on crude spike; Coforge tumbles after chairman's exit

Coforge

09/09/2026 04:56

Updates for markets open
Sept 9 (Reuters) - Indian shares opened lower on Wednesday as a fresh escalation in the Middle East conflict had Brent crude hurtling toward $100 per barrel, a pain point for the world's third-largest crude oil importer.
The Nifty 50 .NSEI fell 0.56% to 23,511.4 and the BSE Sensex .BSESN lost 0.6% to 75,122.70 as of 9:20 a.m. IST.
Ten of the 16 major sectors logged losses.
IT index .NIFTYIT slid 3.5%, with constituent Coforge COFO.NS tumbling 7% after Chairman Om Prakash Bhatt resigned following concerns raised by an internal audit over the company's board evaluation process.
The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lost 0.3% and 0.5%, respectively.
The Middle East war intensified on Tuesday with Iranian-backed Houthis in Yemen launching strikes on several Saudi cities, further embroiling a U.S. ally in the conflict, while U.S. forces hit multiple Iranian oil tankers and Iran struck a U.S. base in Jordan.
Brent crude futures LCOc1 jumped 1.5% to $99.5 per barrel. Higher oil prices threaten to widen the trade deficit, fuel inflation, and weigh on growth in India. O/R

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Rashmi Aich and Harikrishnan Nair)
((VivekKumar.M@thomsonreuters.com;))