26 May,2026 05:29 PM IST | Mumbai | mid-day online correspondent
Sensex tanks 479 points, Nifty also slips (Representational image)
Amid the rising crude oil prices, market benchmark indices Sensex and Nifty on Tuesday ended lower in a volatile trade following a spike in crude oil prices amid reports of fresh US military operations in southern Iran.
As per PTI, the 30-share BSE Sensex declined 479.26 points, or 0.63 per cent, to settle at 76,009.70. During the day, it tanked 579.28 points, or 0.75 per cent, to 75,909.68. Whereas the 50-share NSE Nifty dropped 118 points, or 0.49 per cent, to end at 23,913.70.
From the Sensex firms, Bharti Airtel, Trent, Tata Consultancy Services, Bajaj Finance, Titan, and HDFC Bank were among the biggest laggards. In contrast, Tech Mahindra, Eternal, Maruti, and Adani Ports were among the winners. Brent crude, the global oil benchmark, climbed 2.93 per cent to USD 98.96 per barrel.
US President Donald Trump on Monday further said that negotiations with Iran to end the war were progressing "nicely," but officials pointed out that a final decision may take some time due to the complex communication networks Tehran deploys to consult with its supreme leader.
In Asian markets, South Korea's benchmark KOSPI ended higher, while Japan's Nikkei, Shanghai's SSE Composite index, and Hong Kong's Hang Seng settled lower.
The index in the daily chart formed a high-wave candle with a small real body and shadows in either direction, signalling consolidation amid stock-specific action on the monthly expiry sessions after the previous two sessions' strong up move.
Bank Nifty on Monday's session has generated a breakout above the falling supply line joining the recent highs and the last 9 sessions' consolidation range (54,400-52,800), signalling strength. Index sustaining above the Monday's gap area (54,055-54,590) will keep the bias positive and will open further upside towards 56,000 and 56,600 levels in the coming sessions, being the measuring implication of the recent consolidation range.
"Near-term optimism around a potential US-Iran peace deal faded sharply following reports of US military operations in southern Iran, triggering a spike in crude prices and reversing the rupee's brief appreciation," Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) bought equities worth Rs 821.75 crore on Monday, according to exchange data. In the previous session on Monday, the Sensex jumped 1,073.61 points, or 1.42 per cent, to settle at 76,488.96. The Nifty surged 312.40 points, or 1.32 per cent, to end at 24,031.70.
(With inputs from PTI)
