Oil topping $116/barrel is pressuring Indian equities: Sensex and Nifty turned lower and broader markets crashed. Higher crude is an inflation and margin headwind, so the selloff is hitting the wider

What happened: Indian equities turned lower as crude oil prices crossed $116 per barrel, with the Sensex and Nifty posting modest declines while midcap and smallcap indices fell more sharply amid weak market breadth. Key numbers: Crude oil above $116 per barrel. Why it matters: Rising crude prices raised concerns about inflation and economic growth, and broader markets fell more sharply than the benchmarks.

Indian equities turned lower as crude oil prices crossed $116 per barrel, with the Sensex and Nifty posting modest declines while midcap and smallcap indices fell more sharply amid weak market breadth.

Rising crude prices raised concerns about inflation and economic growth, and broader markets fell more sharply than the benchmarks.