02 September,2026 04:49 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic benchmark equity indices extended their losses for the third consecutive day on Wednesday amid surging crude oil prices due to the renewed tensions between US and Iran.
However, the market indices recovered from their initial setback and pared their losses towards the end of the day.
The 30-share BSE Sensex shed 373.93 points, or 0.49 per cent, to settle at 76,570.35. During the day, it had hit an intraday low of 808.56 points, or 1.05 per cent, to 76,135.72. The 50-share NSE Nifty tanked 141.35 points, or 0.59 per cent, to end at 23,914.45. It had hit an intraday low of 23,786.80.
"Tracking negative global cues, domestic equities saw volatile trade, with mid-caps bearing the brunt. Sectorally, while auto and IT stocks dragged markets down, gains in upstream oil and gas on realisation bets amid rising crude, alongside value buying in banking stocks, helped the market recover from its intraday lows," Vinod Nair, Head of Research, Geojit Investments said.
Among the constituents, Adani Ports, Bajaj Finserv, Power Grid, NTPC and Titan were among the gainers, while Asian Paints, HDFC Bank, Mahindra & Mahindra, HCL Tech, Bharat Electronics and Infosys were the major laggards.
On Tuesday the 30-share BSE Sensex dipped 12.99 points, or 0.02 per cent, to settle at 76,944.28. The 50-share NSE Nifty slipped 24.60 points, or 0.10 per cent, to end at 24,055.80.
"Markets are likely to remain under pressure as concerns over rising crude oil prices, bond yields and dollar index keep investor sentiments cautious. Brent crude surged above USD 95 per barrel, following the escalation in the West Asian conflict. Further, global bond yields surging to multi-year highs amid concerns over a near-term US rate hike and a firmer dollar index, inching towards the 100-mark, is adding to pressure on global equities," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
According to news agency PTI, Brent crude, the global oil benchmark, climbed 0.40 per cent to USD 95.13 per barrel, while Foreign institutional investors (FIIs) bought equities worth Rs 1,143.38 crore on Tuesday.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index all ended lower.
"The deepening global bond rout, amid escalating West Asia tensions and bets that central banks will need to tighten monetary policy, has gripped investor sentiment in fear. Despite crude-led pressures, the rupee remained resilient, supported by RBI dollar sales and strong FCNR(B) inflows," Nair said.
(With inputs from PTI)
