Indian stocks fall to three-month low as Brent oil surges past $100

Business Recorder reported that Indian equities slipped for a third straight session on Wednesday, hitting their weakest levels in three months. The slide came as Brent crude futures climbed above $100 a barrel, a level not seen since late July, which stoked worries over inflation and the wider economy.

Iran's Revolutionary Guard announced it had launched ballistic missiles at a Jordanian base used by American forces and attacked 10 ships, a sharp escalation of the conflict in the Middle East, now about six months old. The strikes followed a US claim that five Iranian oil tankers had been destroyed.

Indian indexes also declined: the Nifty 50 lost 0.86% to 23,431.50 while the BSE Sensex dropped 1.08% to 74,764.23, both finishing at their lowest closes since June 11. Thirteen of 16 major sectors ended lower, with IT shares off 3.2% and Coforge sliding 5.4% after its chairman, Om Prakash Bhatt, resigned amid worries flagged by an internal audit into the board evaluation process. Separately, Adani Enterprises climbed 5.1% following a decision by the conglomerate to offload up to 5.54% of its airport division.