Benchmark indices Sensex and Nifty came under renewed pressure on Tuesday as escalating tensions in West Asia drove crude oil prices sharply higher. The 30-share BSE Sensex dropped 561.46 points or 0.72 per cent to settle at 77,054.95. During the day, the benchmark hit a high of 77,402.79 and a low of 77,001.48, gyrating 401.31 points. The 50-share NSE Nifty was down by 158.95 points or 0.66 per cent and ended the session at 24,052.05. Similarly, the broader market was under pressure and ended the session in the red. While the BSE MidCap Select Index fell 186.51 points or 1.01 per cent, the BSE SmallCap Select Index dropped 48.25 points or 0.55 per cent. The sell-off wiped out nearly Rs 3 lakh crore from the market capitalisation of BSE-listed companies.
Meanwhile, a fresh 4 per cent surge in Brent crude above USD 86 per barrel significantly increased pressure on the domestic currency.ย Among sectoral indices, Nifty Realty and Nifty Auto witnessed substantial selling.ย
“Stock marketsย ended the session on a subdued note after opening with a sharp gap-down, as escalating geopolitical tensions between the United States and Iran kept investors on the sidelines. The renewed conflict has disrupted shipping through the Strait of Hormuz, triggering a sharp rise in crude oil prices and heightening concerns over inflation and the broader macroeconomic outlook. Against this backdrop, market participants remained cautious and refrained from deploying fresh capital, awaiting greater clarity on the evolving geopolitical situation,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losersย
Among the 30-Sensex firms, Bharti Airtel, TCS, Sun Pharma, Tata Steel and Adani Ports were the major gainers, with Bharati Airtel gaining 1.65 per cent today. On the flip side, HCL Tech, Indigo, Bajaj Finserv, SBIN, and M&M were among the laggards. The shares of HCL Tech tumbled 4.42 per cent today.
Today, shares of 6 out of 30 Sensex companies closed in the green, while the remaining 24 closed in the red. On the other hand, shares of 11 of the 50 Nifty 50 companies also closed in the green, while the remaining 39 closed in the red.ย
Rupee falls 62 paise
Rupee traded sharply weaker, declining 62 paise to close at 96.30, as a fresh 4 per cent surge in Brent crude above USD 86 per barrel significantly increased pressure on the domestic currency. On Monday, the rupee depreciated 30 paise to close at 95.68 against the US dollar.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)