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Indian stocks extend losses as Middle East tension lifts oil prices
WTI crude rose more than 2% to near $88 a barrel, while the Nifty 50 ended 24 points lower at 24,055 after slipping below 24,000 intraday.
Indian benchmark stocks extended their losing streak on Tuesday, with broad pressure across global markets intensifying as investors focused on energy and an escalation in Middle East tensions, LiveMint Markets reported.
Energy markets remained dominant, with WTI crude up more than 2% to trade close to $88 per barrel, and MCX crude futures settling above ₹8,300 per barrel. LiveMint Markets linked the move to renewed US-Iran ground strikes and Washington signaling threats of further military action.
The Japanese Nikkei 225, Hong Kong's Hang Seng, and all Chinese indices also finished lower, while selling pressure was visible across Asian markets, except South Korea's KOSPI. In India, the BSE Sensex finished flat after an intraday range that included a low of 76,656 and a high of 77,231.
The Nifty 50 ended down 24 points at 24,055, after dipping below the 24,000 psychological level and reaching an intraday low of 23,952. LiveMint Markets also noted that the index regained the 24,000 level and closed above the 50-DEMA level at 24,050, with the Bank Nifty down 615 points to 57,409.
Latest closeWTI crude $90.79 ▲5.9%|Nikkei 225 66,311.93 ▲0.3%|Hang Seng 25,566.99 ▲0.0%