Stock Market Vs Crude Oil Prices: Is The Old Relationship Breaking? | The Core Report

Stock Market Vs Crude Oil Prices: Is The Old Relationship Breaking? | The Core Report

On Episode 1025 of The Core Report, Govindraj Ethiraj examines the stock market vs crude oil prices relationship as the Sensex gains nearly 4,000 points in five days despite expensive oil. Is the old relationship breaking? He also explores falling gold demand, high fertiliser costs, India’s data centre expansion and misleading nutraceutical ads.

Govindraj Ethiraj speaks with Dr Rahul Mirchandani, Chairman & Managing Director at Aries Agro Limited, about sulphur supply and fertiliser prices. Manisha Kapoor, CEO and Secretary General at the Advertising Standards Council of India (ASCI), explains why health supplement advertising claims are under scrutiny.

SHOW NOTES:

(00:00) Stories of the Day
(01:00) Will Stock Markets Disconnect From Crude Oil Prices?
(02:39) Sensex Gains Nearly 4,000 Points in 5 Days
(03:11) Why India’s Gold Demand Is Falling
(04:51) Sulphur Supply Improves but Prices Stay High
(11:11) India’s Data Centre Capacity Could Grow 5x With ₹3 Lakh Crore Investment
(12:38) ASCI Finds Violations in 60 Nutraceutical Ads

STOCK MARKET VS CRUDE OIL PRICES — IS THE OLD RELATIONSHIP BREAKING?

The Sensex has risen 3,956 points in five days, diverging from its recent pattern of falling when crude oil prices rise. Strong earnings and hopes of capital gains tax relief for foreign investors have supported sentiment, but tax changes remain uncertain.

With Brent crude near $107 a barrel, can the rally last? The stock market vs crude oil prices equation faces a fresh test as investors watch geopolitical tensions and the US midterm elections.

The Sensex closed at 76,917 and the Nifty 50 at 23,810. Bata India reported a 30% rise in quarterly profit, supported by demand for premium shoes and sneakers.

WHY IS INDIA’S GOLD DEMAND FALLING?

India’s gold demand could fall to a six-year low of around 650 tonnes in 2026 as high prices squeeze jewellery purchases and investment demand.

September-quarter demand fell about 29% year on year to 162 tonnes. Could Diwali and the wedding season bring buyers back?

WHY ARE FERTILISER COSTS STILL HIGH DESPITE BETTER SULPHUR SUPPLY?

Sulphur production has improved, but delivery delays, logistics costs and war risks continue to restrict supplies reaching buyers.

Dr Rahul Mirchandani says Indian sulphur prices have eased to around $860–880 a tonne. However, fertiliser producers face continued cost pressure during the winter crop season.

Cheaper Middle Eastern supplies could offer relief, while expanding domestic refinery capacity may help over time. India still imports more than half its sulphur requirements.

CAN INDIA’S DATA CENTRE CAPACITY GROW FIVEFOLD?

India’s data centre capacity could reach 7.5 GW by March 2030, attracting more than ₹3 lakh crore in investment over four fiscal years.

Nearly half the upcoming capacity is committed under long-term contracts. But heavy upfront spending could keep debt elevated before projects generate cash. Can execution keep pace with expansion?

CAN NUTRACEUTICAL ADS BACK UP THEIR HEALTH CLAIMS?

ASCI found code violations in 60 of 61 nutraceutical ads reviewed, with one case still under process. Claims included weight loss, anti-ageing and respiratory health benefits.

Manisha Kapoor explains why evidence about an ingredient does not necessarily prove the finished product works. ASCI seeks changes or withdrawal of misleading ads and escalates non-compliance to relevant regulators.

When wellness promises sound like medical treatments, what evidence should consumers expect?

Stock market vs crude oil prices. Is the old relationship breaking? Can the Sensex and Nifty rally withstand expensive oil? Explore India’s gold demand, fertiliser costs, data centre growth and ASCI’s findings on nutraceutical ads. Subscribe to The Core Report with Govindraj Ethiraj for Indian business news and insights into the economy. What could test this rally next? Share your view.

#StockMarket #CrudeOil #Sensex #IndianEconomy #TheCoreReport #TheCore

Join The Core Insider to get access to perks:
https://www.youtube.com/channel/UCzXJw6XkwZulY4nigdtvs4Q/join

Listeners! We await your feedback: https://tinyurl.com/TCR-Listener-Survey

The Core & The Core Report is ad supported & FREE for all readers & listeners. Write in to shiva@thecore.in for sponsorships & brand studio requirements.

For more of our coverage check out thecore.in (https://www.thecore.in/)

Support the Core Report (https://tinyurl.com/Support-the-Core-Report)

Join & Interact anonymously on our WhatsApp channel (https://tinyurl.com/The-Core-WhatsApp-Channel)

Subscribe to our Newsletter (https://www.thecore.in/newsletters/thecorenewsletter)

Follow Us on Social Media for More Updates:
Twitter (https://twitter.com/the_core_in)
Instagram (https://www.instagram.com/the.core.in/)
Facebook (https://www.facebook.com/thecore.biz/)
Linkedin (https://www.linkedin.com/company/thecore-in)
Youtube (https://www.youtube.com/@thecore_in)