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Reliance, BPCL to JK Tyre: Here are most affected Indian stocks as crude oil prices surpass $115 by rising 30% on Monday

Crude oil prices surged to nearly $120 per barrel due to escalating conflict in Iran, affecting Middle East production. The rise, the largest since 2020, pressured financial markets, leading to significant declines in Indian indices and affecting various sectors reliant on crude oil.

Mar 09, 2026 &03420909202631; 07:42 UTC www.livemint.com Trending 2/5

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Negative for markets

Sentiment score: -75/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Crude oil prices surged to nearly $120/barrel due to Iran conflict escalation, marking the largest single-day jump since 2020. This 30% spike significantly pressures Indian equities, particularly energy, automotive, and airline sectors dependent on oil imports, with major indices declining sharply.

AI CONFIDENCE

92% Very high

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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FTSE MIB (Italy)

FTSEMIB.MIIndex

Expected to decline

European equities pressured by crude oil surge and geopolitical tensions affecting global markets

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

Eurozone index declining due to energy cost inflation and Middle East geopolitical risk

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S&P 500

^GSPCIndex

High volatility expected

US markets volatile from crude spike; energy stocks up but broader economy pressured by inflation concerns

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Oil (WTI Crude)

CL=FCommodity

Expected to rise

Crude oil surged 30% to $120/barrel on Iran conflict escalation and supply concerns

↓

Euro / US Dollar

EURUSDCurrency

Expected to decline

Euro weakening as energy-dependent European economy faces higher oil import costs

↓

RELIANCE.NS

RELIANCE.NSStock

Expected to decline

Indian refiner pressured despite upstream benefits; downstream margin compression from crude spike

↓

BPCL.NS

BPCL.NSStock

Expected to decline

State-owned refiner facing margin pressure from crude oil price surge

↓

JKTYRE.NS

JKTYRE.NSStock

Expected to decline

Tire manufacturer affected by higher crude-derived input costs and reduced automotive demand

PRICE HISTORY

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⚡ SUGGESTED ACTION

SELL exposure to oil-importing sectors (automotive, airlines, consumer goods) and reduce long positions in Indian equities until geopolitical tensions ease. Consider hedging with energy sector longs or crude oil futures if holding import-dependent stocks; monitor for central bank policy responses to inflation.

KEY SIGNALS

Crude oil at $120/barrel - highest spike since 2020Iran geopolitical escalation creating supply disruption fearsIndian import-dependent economy facing inflation pressureMargin compression for refiners and oil-dependent manufacturersFlight costs and logistics expenses rising sharplyPotential RBI intervention concerns for currency stability

SECTORS INVOLVED

EnergyAutomotiveAirlinesPetrochemicalsTransportationConsumer Discretionary

Analysis generated on Mar 09, 2026 at 14:40 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by Livemint. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Reliance, BPCL to JK Tyre: Here are most affected Indian stocks as crude oil prices surpass $115 by rising 30% on Monday

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