19 August,2026 04:55 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
Market benchmark indices Sensex and Nifty extended their losses on Wednesday as elevated crude oil prices amid geopolitical uncertainties made investors cautious.
The 30-share BSE Sensex slumped 325.78 points, or 0.42 per cent, to settle at 76,909.68, extending its losses for the fourth day. In the last four days, the benchmark has declined 1,170.28 points, or 1.49 per cent.
The 50-share NSE Nifty, which has been on a downward trajectory, registered its seventh session of loss, and shed 76.60 points, or 0.32 per cent, to end at 24,078.30. It has declined 505.5 points, or 2 per cent, in the last seven sessions.
According to Bajaj Broking Research the Nifty extended the losing streak for the seventh consecutive session, with persistent geopolitical tensions continuing to weigh on investor sentiment.
"Brent crude oil prices sustaining above the USD 90 per barrel mark remained another key overhang, raising concerns over inflationary pressures and corporate profitability and keeping investors cautious," it said.
"Nifty is expected to remain under pressure amid weak global cues, elevated crude prices and continued geopolitical tensions," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
"Among sectors, Nifty IT was the only sectoral gainer, rising 0.4 per cent and snapping a four-day losing streak, supported by value buying and capital rotation into domestic IT stocks," he added.
The Nifty Midcap 100 index declined 0.21 per cent, while the Nifty Smallcap 100 index fell 0.51 per cent.
On Tuesday, the Sensex plunged 492.70 points, or 0.63 per cent, to settle at 77,235.46, while the Nifty tumbled 132.75 points, or 0.55 per cent, to end at 24,154.90.
From the Sensex pack, HCL Tech, Eternal, Kotak Mahindra Bank and Sun Pharma were among the major gainers, while Power Grid, Bajaj Finance, Larsen & Toubro, ITC, Hindustan Unilever and Reliance Industries were among the major laggards.
According to news agency PTI, Brent crude, the global oil benchmark, jumped 1.04 per cent to USD 91.97 per barrel, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,651.53 crore on Tuesday.
"Markets turned cautious ahead of the release of the US FOMC (Federal Open Market Committee) minutes, as investors remained concerned that the Federal Reserve's battle against inflation may continue. The lack of a diplomatic resolution following the end of the US-Iran ceasefire kept crude oil prices and bond yields elevated, strengthening risk-off sentiment," said Vinod Nair, Head of Research, Geojit Investments Ltd.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite index all traded lower, while Hong Kong's Hang Seng index ended marginally higher.
(With inputs from PTI)
