Market Update: Sensex and Nifty Dip Amid Global Tensions and Oil Price Surge

Market Overview

Mumbai: On Tuesday, the key indices Sensex and Nifty experienced a decline as investors engaged in profit-taking following a significant rally in the previous trading session. The ongoing tensions between Israel and Iran have made investors more cautious.

Additionally, the rise in global crude oil prices and the anticipation of the US Federal Reserve's interest rate decision later this week have led many investors to adopt a wait-and-see approach, as noted by market analysts.

The BSE Sensex, comprising 30 stocks, fell by 212.85 points, or 0.26%, closing at 81,583.30. At one point during the day, it had dropped by 369.14 points, reaching a low of 81,427.01.

Similarly, the NSE Nifty, which includes 50 stocks, decreased by 93.10 points, or 0.37%, to finish at 24,853.40.

Among the major losers in the Sensex group were Sun Pharma, Eternal, Tata Motors, Bajaj Finance, IndusInd Bank, and Bajaj Finserv.

Conversely, Tech Mahindra, Infosys, Asian Paints, and Maruti saw gains.

In the Asian markets, South Korea's Kospi and Japan's Nikkei 225 index closed positively, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in the red.

European markets were also trading lower during mid-session.

On Monday, US markets had a positive close.

The global oil benchmark, Brent crude, saw an increase of 1.69%, reaching USD 74.47 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 2,539.42 crore on Monday, while Domestic Institutional Investors (DIIs) purchased equities worth Rs 5,780.96 crore.

The previous day, the BSE Sensex had surged by 677.55 points, or 0.84%, closing at 81,796.15, while the Nifty rose by 227.90 points, or 0.92%, to 24,946.50.