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Indian stocks fall for third straight session as oil stays elevated
The Nifty slipped 0.3% to 24,353 and the Sensex eased 0.1% to 77,861, with metal, cement and financials among the worst performers as Middle East tensions kept crude prices higher.
LiveMint Markets reports that India’s equity market posted another weak session on 13 August, extending its losing streak to a third straight day as investor sentiment stayed subdued and crude oil remained elevated.
The report links the pressure to stalled talks in the Middle East, which have helped keep oil prices higher, and to weak participation from financial stocks that dragged the main indices down.
The Nifty fell 0.34% to 24,353, while the Sensex declined 0.13% to 77,861. Sectoral results showed metal, cement, financials, and auto as top decliners, while chemicals, FMCG, medial, and consumer durables ended higher.
Metal stocks led the declines, with NALCO dropping 4.6% to ₹400 per share, followed by SAIL, Hindalco Industries and Vedanta, which fell up to 3%. The broader piece also points to ongoing tensions between Iran and the US, as competing statements and a lack of progress in reviving an interim deal have contributed to risk in the oil market.
Latest closeWTI crude $82.68 ▼0.6%|Sensex 78,154.25 ▼0.5%