Brent Surges Past $105, Extending Indian Stock Losses and Rupee Plunge

Indian equities extended declines on May 12 as Brent crude spiked above $105 a barrel—up nearly 3% prior session—amid U.S.-Iran tensions, intensifying inflation fears for oil-dependent India. The Nifty 50 fell 1.5% and BSE Sensex dropped 1.7%, with the rupee hitting a record low of 95.31 versus the dollar; foreign investors net sold Rs 8,438 crore. This built on May 11's 1.2-1.4% slide after PM Modi's fuel-cut warnings and Middle East jitters, atop $5.2bn April outflows and 87.8% oil import reliance.