21 July,2026 05:52 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices ended lower on Tuesday, dragged down by IT and bank stocks as investors continued to maintain a cautious outlook amid the escalating tensions in West Asia and rising crude oil prices.
The 30-share BSE Sensex slipped 238.41 points, or 0.31 per cent, to settle at 77,470.11, while the 50-share NSE Nifty was down by 50.80 points, or 0.21 per cent, to end at 24,187.70.
The Sensex had dropped 58.89 points to 77,649.63 at the opening, while the Nifty had declined to 24,216.05 losing 22.45 points, from the previous close.
"For the second consecutive session, the market traded within a narrow range, reflecting the ongoing lack of directional conviction," Shrikant Chouhan, Head of Equity Research, Kotak Securities said.
Among the Sensex pack, Bajaj Finserv emerged as the biggest gainer, rising by 2.07 per cent. InterGlobe Aviation, UltraTech Cement, HCL Tech, Mahindra & Mahindra and Titan were also among the gainers. However, HDFC Bank stocks continued to fall for the second day, with the shares declining 2 per cent, after the private sector lender's net interest margin shrunk during the June quarter. Reliance Industries, State Bank of India, Tata Consultancy Services, Infosys and Trent were also among the laggards.
On Monday the benchmark indices fell sharply before making a recovery in the trade later. The Sensex had shed 442.93 points, or 0.57 per cent, to settle at 77,708.52, while the Nifty had declined 95.80 points, or 0.39 per cent, to end at 24,238.50, amid rising crude oil prices that had breached USD 90 per barrel level.
"At present, the broader market is trading in a mixed range, reflecting large caps' underperformance driven by moderating inflows amid rising geopolitical risks and higher crude oil prices," Vinod Nair, Head of Research, Geojit Investments said.
Brent crude, the global oil benchmark, climbed 0.66 per cent to USD 90.03 per barrel, as per PTI report.
According to Bajaj Broking Research Brent crude oil prices hovering near the USD 90 per barrel mark remained a key concern, raising fears of higher inflation and its potential impact on corporate margins.
"Domestic equities are expected to remain range-bound amid continued geopolitical tensions in West Asia, Brent crude oil prices near USD90 per barrel, weak rupee, persistent Foreign Institutional Investor (FII) selling and mixed global cues. While the ongoing Q1FY27 earnings season is expected to drive stock-specific action, investor sentiment will continue to be influenced by developments in West Asia and the trajectory of crude oil prices," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,121.04 crore on Monday, while in Asian markets, South Korea's KOSPI rebounded by 3.56 per cent, Japan's Nikkei 225 climbed 3.26 per cent, and Hong Kong's Hang Seng index ended marginally lower, as per PTI report.
(With inputs from PTI)
