Home›Global Markets›Trade & Tariffs›India stocks slip as investors weigh potential US Iran…

India stocks slip as investors weigh potential US Iran sanctions

The Nifty 50 ended down 0.1% to 24,219 and crude oil stayed near one-month highs even as prices eased during the session.

Reported · Written up by our desk · Trade & Tariffs

India’s stock market slid on Monday, Aug. 24, as investors weighed weakness in global markets and awaited more clarity on a US plan to announce new sanctions on Iran, according to LiveMint Markets. The move came alongside continued pressure in bond markets, where elevated yields reflected concerns over fiscal outlooks and inflation.

At the close, the Nifty 50 finished 0.1% lower at the 24,219 level, while the S&P BSE Sensex fell 0.2% to 77,370, with midcap and small-cap indices also ending in the red. The session also saw heavy selling in financial stocks, while auto and FMCG shares closed lower.

Geopolitical tensions in the Middle East remained a key focus, supporting crude oil prices, even though they retreated modestly during the trading day. Traders said they were awaiting details of the US campaign to isolate Iran’s economy, which Tehran dismissed as another failed attempt and said it could withstand similar measures while maintaining trade.

Among individual movers, BLS International was the top laggard on the Nifty 500, falling 10.5% to Rs 242 after media reports alleging visa fraud. Schneider Electric extended its decline for a fourth straight session, dropping a further 5% to Rs 1,155, while Aegis Logistics fell 5.4% to Rs 1,342 and Gabriel India dropped 4.3% to Rs 1,359.

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

More like this

Sources