Indian benchmark equity indices extended their losing streak on Tuesday, with the Sensex falling more than 560 points and the Nifty slipping below key levels as escalating tensions in the Persian Gulf and a sharp rise in crude oil prices dampened investor sentiment.
The BSE Sensex settled at 77,054.94, down 561.46 points or 0.72 per cent, while the NSE Nifty50 closed at 24,052.05, losing 158.95 points or 0.66 per cent.
During the session, the Sensex touched an intraday low of 77,001.48 against its previous close of 77,616.40, while the Nifty declined to 24,023.70.
Markets remained under pressure after intensified military exchanges between the United States and Iran pushed global crude oil prices to their highest levels in nearly a month, triggering broad-based selling across sectors.
Among sectoral indices, Nifty Realty, PSU Bank, Auto and Financial Services were the worst performers, each declining by more than one per cent. In contrast, Nifty Pharma bucked the trend and gained over one per cent.
On the Sensex, Bharti Airtel, Sun Pharma, TCS, Tata Steel, Adani Ports and Eternal ended with gains. However, HCL Technologies, Bajaj Finserv, HDFC Bank, ICICI Bank, Reliance Industries, Axis Bank, Asian Paints, Power Grid, Bharat Electronics, Larsen & Toubro and Mahindra & Mahindra were among the major laggards.
In the commodities market, Brent crude was trading at USD 86.59 per barrel, while WTI crude stood at USD 80.59 per barrel at the time of reporting. Brent futures for September delivery touched USD 85.92 per barrel, the highest level since June 15.
Gold prices, meanwhile, recovered after touching a two-week low earlier in the day as investors awaited key US inflation data. Spot gold rose 0.8 per cent to USD 4,031.43 per ounce, while US gold futures for August delivery gained 0.8 per cent to USD 4,037.80. At the time of reporting, gold was trading at USD 4,022.59 per ounce.
