Indian benchmark indices ended lower on Tuesday, extending their decline amid elevated crude oil prices, foreign fund outflows and continued uncertainty over developments in West Asia.
The BSE Sensex fell 242.65 points, or 0.33 per cent, to close at 72,529.07, while the Nifty 50 declined 64.05 points, or 0.28 per cent, to settle at 22,716.20. Both indices recovered from sharper losses during the session.
The broader market also remained under pressure, with the Nifty Midcap 100 declining 0.99 per cent and the Nifty Smallcap 100 falling 0.81 per cent. Banking and IT stocks were among the sectors that faced selling pressure.
Crude oil prices remained a key concern for investors, with Brent crude trading around $105-$106 a barrel. Higher oil prices are a concern for India because of the country’s dependence on imported crude and their potential impact on inflation and corporate margins.
Foreign institutional investors also continued to withdraw funds from Indian equities. Reuters reported that FPIs sold shares worth about Rs 5,353 crore on Monday, taking their net selling in September to around $2.17 billion.
Among Sensex stocks, Adani Ports, Sun Pharma, Tata Steel and Kotak Mahindra Bank were among the notable gainers. On the other hand, HCL Technologies and TCS declined, while selling was also seen across several other heavyweight stocks.
The market remained volatile during the session, with the monthly derivatives expiry adding to price swings. The indices are also coming off a sharp sell-off on Monday, when the Sensex dropped more than 1,100 points and the Nifty fell 1.56 per cent.
Investors are likely to continue tracking crude oil prices, global bond yields, foreign fund flows and developments in West Asia for further market cues.
