Benchmark indices Sensex and Nifty ended lower on Tuesday as a rebound in crude oil prices and uncertainties around the Middle East weighed on investor sentiment. The 30-share BSE Sensex fell 388.19 points or 0.49 per cent to 78,154.25. During the day, the benchmark hit a high of 78,509.77 and a low of 78,048.26, gyrating 461.51 points. Similarly, the 50-share NSE Nifty ended 112.10 points or 0.46 per cent lower at 24,471.70. However, the broader market ended the session mixed. While the BSE MidCap Select Index dropped 2.02 points or 0.01 per cent, the BSE SmallCap Select Index added 34.63 points or 0.38 per cent.
Among sectoral indices, Nifty FMCG was the major loser with a drop of 1.17 per cent. Nifty Metal and Nifty Realty were also down by around 1 per cent. On the other hand, Nifty Pharma gained 1.02 per cent.
“Indian equity markets ended lower on Tuesday as fading hopes of an early agreement to reopen the Strait of Hormuz pushed crude oil prices higher, weighing on global risk sentiment, the rupee, and domestic equities. Negotiations over the strategic shipping route became increasingly complicated after U.S. President Donald Trump responded to Iran’s conditions by demanding compensation for those killed during the conflict, adding a fresh layer of uncertainty to efforts aimed at reopening the Strait of Hormuz. With rhetoric continuing to swing between threats and optimism over a possible breakthrough, investors remained unconvinced that a durable agreement was imminent,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, Eternal, Infosys, Titan, HCL Tech and TCS were the gainers, with Eternal gaining 2.01 per cent today. On the flip side, UltraTech Cement, Axis Bank, Indigo, Bharti Airtel and Bajaj Finance were among the laggards. The shares of UltraTech Cement fell 2.75 per cent today.
Today, shares of 5 out of 30 Sensex companies closed in the green, while the remaining 25 closed in the red. On the other hand, shares of 13 out of 50 Nifty 50 companies also closed in the green, with gains, while the 37 others closed in the red and two remained unchanged.
Rupee traded with a positive bias
Meanwhile, the rupee traded weaker, declining around 15 paise to 95.43, as the recent rally in crude oil prices put pressure on the domestic currency. At the interbank foreign exchange market, the rupee opened at 95.38 against the US dollar and traded in a very narrow range of 95.37-95.45. Eventually, it settled at 95.43 (provisional), down 13 paise from its previous close.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
