25 August,2026 10:04 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic benchmark equity indices declined on Tuesday in the early deals, as simmering tensions between USA and Iran made investors cautious over possible crude oil supply disruptions.
During the initial trade, the 30-share BSE Sensex slipped 169.51 points or 0.22 per cent at 77,199.60, while the 50-share NSE Nifty lost 80.25 points or 0.33 per cent at 24,138.80.
"The range-bound nature of the market will continue in the near-term with buying emerging at lower levels and selling emerging at higher levels. The near-term range for the Nifty now is 24100-24500 . However, bulk of the market action is beyond Nifty, focused on the mid-cap and small-cap segments," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.
On Monday, Sensex shed 171.72 points, or 0.22 per cent, to settle at 77,369.11, while the Nifty dipped 32.95 points, or 0.14 per cent, to end at 24,219.05, as investor sentiment remained cautious amid concerns over Iran's threat to restrict transit through the Strait of Hormuz ahead of Washington's sanctions announcement.
"The near-term bias is likely to remain cautiously positive at the open but rangebound thereafter. A sustained decline in crude oil prices, however, could provide renewed support to equities and improve overall market sentiment," Rajesh Palviya, Head of Research, Axis Direct said.
Among the Sensex constituents, Trent, Adani Ports, ICICI Bank, Axis Bank, Bharti Airtel were the major gainers. Tata Group's retail company Trent's stocks were trading nearly 1 per cent higher in the early deals. HCL Tech, Tech Mahindra, Power Grid, Bajaj Finance, Maruti Suzuki were among the laggards.
"The US sanctions on Iran and the threat of secondary sanctions on countries that trade with Iran have introduced a new wave of uncertainty. Crude is likely to remain at the present high levels, constraining a rally in the market," Vijayakumar said.
According to news agency PTI, Brent crude, the global oil benchmark, was trading higher by 0.30 per cent at USD 92.45 per barrel in futures trade, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,181.66 crore on a net basis on Monday.
"Asian markets have opened on a weaker note, with Japan's Nikkei down around 1 per cent as pressure on semiconductor stocks persists. Brent crude is holding near USD 90 a barrel after falling 4 per cent on Monday following the sanctions rollout. While the decline offers some relief, crude at these levels continues to pose risks to India's import bill and the rupee, which stood at 95.74," Palviya said.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index were quoting lower, however, Japan's Nikkei 225 was trading in the positive territory.
(With inputs from PTI)
