Indian shares on course for second day of losses; metal, energy stocks lead decline

Hindustan Petroleum

08/10/2026 07:34

** India's Nifty 50 .NSEI and BSE Sensex .BSESN down 1% and 0.9%, respectively
** On track for second session of losses after Reserve Bank of India hikes repo rate by 25 bps and signals more increases amid inflationary pressures from higher crude prices
** Brent crude futures LCOc1 up 2.6% to $103 a barrel on Middle East supply concerns amid shipping attacks
** Fourteen of the 16 major sectors trade lower; broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 drop 1.7% and 1.3%
** Metal index .NIFTYMET down 2.8%, extending Wednesday's 2.3% drop; dollar near 18-month high makes commodities costlier for overseas buyers
** Oil marketing companies BPCL BPCL.NS, HPCL HPCL.NS and IOC IOC.NS down 1.9% to 3.3%, as higher oil prices can weigh on margins
** Heavyweights Reliance Industries RELI.NS and HDFC Bank HDBK.NS drop 2.3% and 1.3%, respectively
** IT stocks .NIFTYIT rise 1.2% ahead of bellwether TCS's TCS.NS earnings


 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))