Mumbai: Indian stock markets witnessed heavy selling pressure on Tuesday, with benchmark indices ending significantly lower amid growing concerns over rising crude oil prices and escalating tensions in the Middle East. The BSE Sensex plunged more than 1,200 points to settle near the 74,700 mark, while the NSE Nifty dropped over 380 points to close at 23,429.
According to ABP Live, investor confidence remained under pressure due to uncertainty linked to the ongoing US-Iran conflict and continuous foreign institutional investor (FII) outflows. Market volatility also intensified as crude oil prices crossed USD 105 per barrel, raising fears of inflationary pressure and economic instability.
Among Sensex stocks, NTPC, State Bank of India, and Bharti Airtel emerged as key gainers. On the other hand, Tata Steel, Axis Bank, HDFC Bank, Kotak Mahindra Bank, and Sun Pharmaceuticals were among the major laggards. Broader markets also faced sharp declines, with the Nifty Smallcap 100 index falling nearly 3 percent, while the Realty sector remained one of the worst-performing segments.
Reuters reported that investors continued to monitor developments related to the US-Iran situation, which has significantly influenced global risk sentiment and commodity prices. US President Donald Trump further added to market uncertainty after describing the Iran ceasefire as being on “life support” following the rejection of Tehran’s peace proposal.
Exchange data showed that FIIs sold equities worth Rs 8,437.56 crore on Monday, adding further pressure on domestic equities. Asian markets delivered mixed performances, while US markets ended marginally higher in the previous session.
Analysts believe that movements in crude oil prices and geopolitical developments will continue to play a crucial role in determining market direction in the coming sessions.
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