24 August,2026 04:48 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic benchmark equity indices declined on Monday amid concerns over crude oil availability due to geopolitical uncertainties, ahead of fresh US sanctions on Iran.
The 30-share BSE Sensex shed 171.72 points, or 0.22 per cent, to settle at 77,369.11. The 50-share NSE Nifty dipped 32.95 points, or 0.14 per cent, to end at 24,219.05. The market indices had opened in the positive territory, buoyed by the slight easing in the global crude oil prices.
"Indian benchmark indices turned lower during the afternoon session after giving up their early gains, as investors remained cautious amid elevated crude oil prices and uncertainty surrounding potential fresh US sanctions on Iran. However, selective buying in IT, Metal, and Realty stocks helped limit the downside, with the Nifty managing to hold above the crucial 24,200 mark at close," Bajaj Broking Research said.
On Friday, the Sensex gained just 3.11 points to end at 77,540.83, while the Nifty advanced 20.15 points, or 0.08 per cent, at 24,252.
During last week, the Sensex declined 468.42 points or 0.60 per cent, while the Nifty slipped 114 points or 0.47 per cent, due to the elevated crude oil prices.
Among the Sensex constituents, Tata Steel, HCL Tech, Infosys, and Hindustan Unilever were among the major gainers. Adani Ports, Bharat Electronics, Bajaj Finance, Bajaj Finserv, Trent, Axis Bank, State Bank of India, and Tata Consultancy Services (TCS) were among the laggards. TCS shares had gained in the initial trade but the stock ended 0.65 per cent lower.
"On the sectoral front, Metal, Realty, Energy, and IT emerged as the key gainers, supported by selective buying interest. On the downside, Banking, Financial Services, and Media remained the key laggards, with profit booking weighing on these sectors," Bajaj Broking Research said.
"Caution dominated market sentiment as investors are awaiting fresh sanctions from the US on Iran later today. Brent crude eased on profit-taking but remained above the USD 90 per barrel mark, supported by concerns over tighter Iranian oil supplies and ongoing tensions around the Strait of Hormuz. Against this backdrop, coupled with the RBI's recent hawkish stance, domestic bond yields moved higher, dampening risk appetite. Tracking weak Asian markets, Indian equities drifted lower through the day, with large caps underperforming broader markets," Vinod Nair, Head of Research, Geojit Investments said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index all ended lower.
"Indian equities are expected to remain lacklustre amid mixed global cues and a lack of domestic triggers. Geopolitical tensions remain elevated amid the prospect of fresh US sanctions on Iran, while sectoral and news-specific action is likely to remain in focus," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
According to news agency PTI, Brent crude, the global oil benchmark, dropped 1.68 per cent to USD 92.80 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 542.71 crore on Friday.
(With inputs from PTI)
