Sensex falls over 580 points, rupee weakens as West Asia war rattle global markets

1 min readJul 8, 2026 02:34 PM IST

Sensex was down 0.75% at 77,592, while the broader NSE Nifty 50 declined 0.72% to 24,217.

The BSE Sensex was down 0.75% at 77,592, while the broader NSE Nifty 50 declined 0.72% to 24,217, as the U.S. unleashing a new wave of strikes ⁠against ​Iran dented global risk appetite and lifted crude prices.

The Indian rupee fell 0.26% versus the U.S. ​dollar ​to 95.2150, as renewed ⁠hostilities in the Middle East lifted oil prices and ‌sapped risk sentiment, while traders pointed to modest portfolio inflows that helped limit downward pressure. The benchmark 10-year bond was quoted at 101.5250 rupees, ⁠with the ⁠yield up nearly 3 bps at 6.7232%, after ⁠a flare-up ‌in Middle East ​tensions pushed oil prices ‌and Treasury yields above key near-term psychological levels.

The one-year ​overnight ​index ​swap rate was up 2.5 basis points at 5.755%, ​while the five-year swap ⁠rate rose 3.25 bps to 6.1525%.

India’s overnight call money rate ‌was ⁠at 5.30%, and the overnight TREPS rate was at ​5.15%.