Indian equity markets ended lower on Tuesday as rising crude oil prices above $110 per barrel and escalating US-Iran tensions over the Strait of Hormuz weighed on investor sentiment. The Sensex fell 251 points, while the Nifty declined 86 points, closing below 24,050 after opening weak with losses of over 420 and 145 points respectively.
Markets remained volatile throughout the session amid weak global cues, a weakening rupee, and firm crude oil prices hovering around $113–114 per barrel. Banking, oil & gas, and realty stocks led the decline, while auto, FMCG, IT, and pharma sectors saw selective buying. Weekly expiry also added to intraday volatility.
Among Sensex gainers, Mahindra & Mahindra rose 3.85%, followed by UltraTech Cement, Bajaj Finserv, Bajaj Finance, Infosys, and Bharat Electronics. However, ICICI Bank, Tech Mahindra, Axis Bank, SBI, Maruti Suzuki, and L&T were among key losers.
Sectorally, Nifty Bank fell 0.60%, Private Bank dropped 0.67%, and Realty declined 1.41%, while FMCG and Auto gained around 0.6%. Broader markets showed mixed trends with small-cap indices outperforming.
Market expert Anil Singhvi said crude strength, rupee weakness, and global pressure drove the fall, though domestic fund inflows remained supportive.
He pegged Nifty support at 23,800–23,900 and resistance at 24,150–24,250, warning of further weakness below key levels.
