Sensex, Nifty slump as crude oil prices stay elevated

On Wednesday, August 12, the stock market in India went down a little bit.

The Sensex, which tracks many big company shares, fell by 0.34% to 77,889.

The Nifty, another share index, fell by 0.15% to 24,435.

One big reason was that the price of crude oil kept going up, touching $90 for a barrel, for the sixth day in a row.

India buys most of its oil from other countries, so expensive oil can make prices of many things go up.

Some companies had disappointing results for the April-to-June period, so their shares fell.

Godrej Consumer's shares dropped a lot, by 11.2%.

Shares of Tata Group companies also fell because the chairman of Tata Sons, N. Chandrasekaran, resigned.

But not everything went down: NALCO shares rose 8.3%, and Ather Energy hit a fresh record high.

Investors were worried, so they sold some shares, which is why the market ended lower.