03 September,2026 05:19 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices extended their losing streak to a fourth consecutive day on Thursday as rising crude oil prices amid renewed conflict between US and Iran dented investor sentiment.
The 30-share BSE Sensex declined 417.49 points, or 0.55 per cent, to close at 76,152.86. The 50-share NSE Nifty dipped 41 points, or 0.17 per cent, to settle at 23,873.45.
During the initial trade the benchmark indices had rebounded to trade in the positive territory, however they pared their gains during the end of the session.
"Indian benchmark indices opened with a gap-up but failed to sustain the early gains and ended lower, extending their losing streak to the fourth consecutive session. Selling pressure intensified amid a fresh breakout in Brent crude oil prices above the USD 95 per barrel mark, while elevated geopolitical tensions continued to weigh on investor sentiment. The session also witnessed heightened volatility, led by the Sensex, as investors remained cautious amid the uncertain global backdrop," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.
According to Vinod Nair, Head of Research, Geojit Investments, banking and realty stocks provided leadership, while small-caps attracted investor interest, reflecting confidence in domestic growth prospects.
Among the 30 Sensex constituents, Axis Bank, Adani Ports, Asian Paints, HDFC Bank, Bharti Airtel, Bharat Electronics Ltd and Tata Steel were among the gainers, while Titan, Trent, ITC, Mahindra & Mahindra, Bajaj Finserv, HCL Technologies, Tech Mahindra, Sun Pharmaceuticals, Tata Consultancy Services, UltraTech Cement and Bajaj Finance were the major laggards. Bank stocks had rallied during the day on higher FCNR B mobilisation.
"The market's recovery attempt lost steam as supportive global cues and renewed FII inflows collided with lingering geopolitical tensions and elevated global yields," Nair said.
"Stubbornly high crude oil prices continue to act as key overhangs for the domestic market. While India's strong growth momentum and recent sovereign rating upgrade remain powerful structural positives, near-term market direction will largely depend on the evolution of global macro and geopolitical risks," he added.
According to news agency PTI, Brent crude, the global oil benchmark, rose 1.57 per cent to USD 97.13 per barrel.
"Indian equities are likely to remain under pressure amid elevated crude prices, keeping investor sentiment cautious. Brent crude rose 1.6 per cent to around USD 97 per barrel, near its highest levels in over a month, as investors continued to monitor Middle East developments," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
Foreign Institutional Investors (FIIs) bought equities worth Rs 6,688.37 crore on Wednesday, while Domestic Institutional Investors (DIIs) also purchased shares worth Rs 2,812.98 crore.
According to PTI, Asian markets ended on a mixed note, with Hong Kong's Hang Seng and Japan's Nikkei 225 settling lower. Shanghai's SSE Composite index closed flat, while South Korea's Kospi ended higher.
(With inputs from PTI)
