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Indian stocks extend losses as Middle East tensions and crude rise

Nifty 50 and Sensex each closed 0.5% lower for the sixth straight session, with tech among the worst-performing sectors as Brent futures topped $91 a barrel.

Reported · Written up by our desk · Trade & Tariffs

Indian equities stayed subdued on Aug. 18 as renewed Middle East tensions kept investors cautious, and overseas selling continued to weigh on major benchmarks for a sixth consecutive session, LiveMint Markets said citing Reuters.

Both the Nifty 50 and Sensex closed 0.5% lower, while the broader market also fell, with Nifty Midcap 100 and Nifty Smallcap 100 ending in the red.

Sector weakness was led by technology, which dropped 2% for a second day, followed by realty, PSU banks, FMCG, metals, and consumer durables, each down as much as 1.5%. On the gains side, media, auto, and oil and gas finished higher, though gains were modest.

The report linked sentiment pressure to rising crude, with Brent futures topping $91 per barrel, after hopes for a near-term US and Iran peace deal were undercut when the 60-day interim arrangement expired. LiveMint Markets also noted continued foreign institutional investor selling and cited Lemonn Markets saying persistent FII selling, profit booking, weakness in the rupee, and sector-specific selling, especially in IT, weighed on benchmarks.

Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|Sensex 78,079.96 ▲0.1%

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