Benchmark stock indices Sensex and Nifty opened lower on Tuesday as concerns over rising crude oil prices and geopolitical uncertainty weighed on market sentiment.
The 30-share BSE Sensex declined 428 points, or 0.54%, to 78,114 in early trade, while the NSE Nifty fell 123 points, or 0.50%, to 24,460.
Shares of InterGlobe Aviation, Axis Bank, UltraTech Cement, Bharti Airtel, Eternal and Bajaj Finance were among the major losers from the Sensex pack. On the other hand, Titan, HCL Tech, Tech Mahindra and Infosys traded higher.
Crude oil prices and global cues weigh on equities
Brent crude, the global oil benchmark, was trading slightly lower at $87.61 per barrel, but remained elevated due to concerns over geopolitical tensions and possible disruptions in supply.
On the war front, US President Donald Trump has sought compensation from Iran while Tehran has reiterated conditions for reopening the strategic waterway, adding uncertainty over a possible agreement.
Investors await fresh market triggers
Market experts said investors are likely to remain focused on corporate earnings and global developments before taking aggressive positions.
Higher crude prices could limit market gains and put pressure on oil-sensitive sectors until new domestic or international triggers emerge.
WTI crude has moved back towards $82 per barrel, while Brent remains above $87, reflecting continued concerns over supply disruptions linked to the Strait of Hormuz.
Foreign Institutional Investors (FIIs) bought equities worth ₹1,974.76 crore on Monday, according to exchange data.
Asian markets showed mixed trends on Tuesday, with South Korea’s KOSPI trading higher, while Shanghai’s SSE Composite and Hong Kong’s Hang Seng indices declined. US markets also ended lower on Monday.
In the previous session, the Sensex gained 43.27 points, or 0.06%, to close at 78,542.44, while the Nifty rose 13.15 points, or 0.05%, to settle at 24,583.80.
