Noida, Aug 17 (APAC Media): Indian equity benchmarks BSE Sensex and NSE Nifty ended lower on Monday, weighed down by losses in information technology stocks and continued investor caution amid geopolitical concerns and elevated crude oil prices.
The Sensex fell 282 points, or 0.36%, to close at 77,728.17, while the Nifty 50 declined 78 points, or 0.32%, to 24,287.65.
The Nifty extended its losing run to a fifth consecutive session, while the Sensex fell for a second straight session.
Oil Prices Consolidate After Weekly Surge as Strait of Hormuz Tensions Keep Markets on Edge
Broader markets outperformed the benchmark indices. The Nifty Midcap 100 gained 0.05%, while the Nifty Smallcap 100 rose 0.36%, indicating relatively stronger buying interest in smaller companies.
IT stocks were among the biggest drags on the Nifty. HCL Technologies, Infosys, Sun Pharma and Tata Consultancy Services declined between about 2% and 2.6%.
On the other hand, Hindalco, Tata Steel, HDFC Life, ONGC and Axis Bank were among the notable gainers.
Investor sentiment remained cautious as crude oil prices stayed elevated amid concerns over tensions in the Middle East. Brent crude was trading near $89 a barrel, raising concerns about inflation and its potential impact on India’s import bill.
Market participants are now expected to track global equity trends, crude oil prices, foreign institutional flows and geopolitical developments for further direction.
The sustained weakness in the Nifty comes as investors assess whether the recent decline represents a broader correction or a temporary bout of profit-taking following the previous market gains.
–ENDS–
Disclaimer:Â This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
Also Read:
