Indian equities and the rupee fell today, dragged down by a spike in global oil prices. The Sensex was down over 100 points while Nifty was below 12,250. Banking stocks were among the top losers today with SBI, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank down between 0.5% and 1%.
The rupee today fell to a one-month low of 71.61 against the US dollar.
Shares oil producer ONGC surged 4% while some buying was seen in IT counters TCS and Infosys as the rupee fell to a one-month low against the US dollar.
Global oil prices soared more than 4% today and equities reversed early gains following news that the US had killed a top Iranian general, fanning fresh fears of a conflict in the crude-rich region.