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Sensex falls nearly 500 points as oil worries extend Nifty losses
Sensex closed at 77,235.46 after dropping 493 points, while Nifty 50 slid for a sixth straight session, as elevated Brent crude near $91 a barrel kept investors in a risk-off mood.
India’s benchmark Sensex fell by almost 500 points and the Nifty 50 extended losses for a sixth consecutive session on Tuesday, August 18, according to LiveMint Markets. The Sensex ended down 493 points, or 0.6%, at 77,235.46, while the Nifty 50 fell 133 points, or 0.6%, to 24,154.90.
Market sentiment stayed under pressure from unresolved West Asia tensions and concerns that higher crude prices could strain India’s fiscal position, lift inflation, weaken the rupee further, and prompt more foreign capital outflows, the report said. Brent crude traded near $91 per barrel when the Sensex closed, with the US-Iran situation remaining unresolved.
LiveMint Markets also cited commentary that crude oil remained a key drag on Indian equities, alongside rising US bond yields and weaker global cues that prolonged a risk-off trend. As hopes for a Middle East resolution faded after the expiration of a temporary US-Iran ceasefire, investors increasingly focused on renewed inflation risk, the outlet said.
The broader market participation also tilted toward decliners, with the report noting that of nearly 4,500 stocks traded on the BSE, about 2,400 fell and around 1,900 rose. Among Nifty 50 constituents, Tata Motors Passenger Vehicles, Asian Paints, Infosys, Wipro, and HCL Technologies were listed among the top laggards, LiveMint Markets said.
Latest closeWTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%|Sensex 78,079.96 ▲0.1%