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Indian stocks slip as Middle East tensions lift crude and pressure banks
Nifty 50 ended 0.40% lower at 24,233, while the Nifty PSU Bank index rose nearly 3% and the Nifty Private Bank index fell 2.25% amid banking earnings concerns about net interest margins.
India's stock market stayed under pressure on 20 July as investor sentiment remained cautious amid escalating geopolitical tensions in the Middle East, which clouded the broader risk environment, according to LiveMint Markets. Rising crude oil prices added to expectations of tighter monetary policy. LiveMint Markets also pointed to domestic pressure in private sector banks, where earnings highlighted concerns about net interest margins, with lower interest rates potentially squeezing profitability even as credit growth remains healthy.
Geopolitical developments continued to weigh on markets, with the U.S. extending attacks on Iran for the tenth consecutive day and Iran firing missiles toward Jordan. Shipping traffic through the Strait of Hormuz has largely stalled, intensifying fears of an energy disruption as Brent climbed above $90 per barrel on Monday.
Despite weakness in the benchmark, strong buying in selected heavyweight stocks helped reduce losses. The Sensex settled at 77,737, down 0.53%, and broader indices outperformed, with the Nifty Midcap 100 and Nifty Smallcap 100 ending in the green as sector performance stayed mixed.
Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%|Sensex 77,185.43 ▲0.2%