07 September,2026 04:50 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices declined on Monday as elevated crude oil prices due to the escalation in US-Iran conflict weighed on investor sentiment.
"Indian benchmark indices opened on a flat note but remained under pressure throughout the session, with continued selling in large-cap stocks weighing on the benchmarks. Elevated crude oil prices, with Brent remaining near the USD 97 per barrel mark, along with the absence of any significant resolution to ongoing geopolitical uncertainties, kept investor sentiment cautious and restricted buying interest,",Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.
The 30-share BSE Sensex slipped 382.62 points, or 0.50 per cent, to settle at 76,132.81.The 50-share NSE Nifty shed 118.55 points, or 0.50 per cent, to end at 23,779.15.
Among the 30 Sensex constituents, Larsen & Toubro, Bharti Airtel, Maruti Suzuki, Power Grid and ICICI Bank were among the major gainers. Infosys, Tech Mahindra, Tata Steel, Bajaj Finserv, UltraTech Cement and Tata Consultancy Services were among the major laggards.
"Domestic main benchmark indices and large-cap stocks remain influenced by developments in the Strait of Hormuz, while the broader market shows a clear divergence, with small-caps and select mid-caps rally backed by stronger earnings. Value buying has gained traction following the late-2025 and early-2026 sell-off, making valuations attractive as corporate earnings shifts from downgrades to upgrades," Vinod Nair, Head of Research, Geojit Investments said.
"However, the broader market rally is becoming stretched, leaving Dalal Street increasingly exposed to supply-chain disruptions and the risk of weaker high-frequency macroeconomic indicators. In Q1, higher input costs had little impact on corporate earnings due to stronger consumer demand and tax reduction gains, accommodating product and service price hikes. Going forward, there is a growing risk that these supportive factors may fade potentially, weakening earnings expectations and increasing vulnerability to the broad market rally," he added.
The market benchmark indices have been on a downward trajectory, since the past four weeks and had settled lower on four of the five days last week. On Friday, the Sensex advanced 362.57 points, or 0.48 per cent, to settle at 76,515.43, while the Nifty climbed 24.25 points, or 0.10 per cent, to end at 23,897.70.
According to news agency PTI, Brent crude, the global oil benchmark, climbed 0.61 per cent to USD 96.87 per barrel, while Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,111.94 crore on Friday.
"Indian equities are likely to remain under pressure amid weak global cues, elevated crude prices and continued concerns over supply disruptions following the latest escalation in US-Iran hostilities around the Strait of Hormuz. Brent crude, traded 0.4 per cent higher at USD 96.7 per barrel," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index ended higher, while Hong Kong's Hang Seng index settled lower.
(With inputs from PTI)
