2 weeks ago
Sensex Sinks 493 Points, Nifty Ends Below 24,200
A stock market is a place where people buy and sell small pieces of companies, called shares.
On Tuesday, India's big stock markets went down again.
In fact, one of the main market measures, the Nifty, lost value for the sixth day in a row.
The main reason is that oil has become very expensive, costing about 91 dollars for one barrel.
India buys most of its oil from other countries, so expensive oil can make everyday prices go up.
There is also worry because the United States and Iran are having a disagreement, and the peace break between them ended.
When people get worried, many of them sell their shares, which makes prices fall even more.
Computer software companies were hurt the most, while some banks did a little better.
Many people watch these markets because what happens there can affect jobs, prices, and the economy.
Experts say prices could fall a bit more, but India's economy is still thought to be strong underneath.
The BSE Sensex fell 492.70 points, or 0.63 percent, to close at 77,235.46, its third consecutive session of losses.
The Nifty 50 declined 132.75 points, or 0.55 percent, to end at 24,154.90, marking its sixth straight losing session.
Brent crude traded near USD 91.02 a barrel, while rising US bond yields and unresolved US-Iran tensions after the ceasefire expired weighed on market sentiment.
Nifty IT was the top sectoral loser, down 1.93 percent, with Infosys, Asian Paints, Wipro and HCL Technologies among the biggest laggards.
Foreign institutional investors sold Indian shares worth ₹2,535.10 crore on Monday, while 180 stocks hit 52-week highs and 91 hit 52-week lows on the BSE.
- Who
- Indian benchmark indices the BSE Sensex and Nifty 50, along with domestic and foreign investors and analysts at firms such as Geojit Investments, SBI Securities and Religare Broking.
- What
- The BSE Sensex fell 492.70 points to 77,235.46 and the Nifty 50 ended at 24,154.90, closing below the 24,200 mark for its sixth consecutive losing session.
- Where
- Indian stock markets, with trading on the BSE and NSE in Mumbai, set against rising tensions in West Asia.
- When
- Tuesday, 18 August.
- Why
- A surge in crude oil prices near $91 a barrel, rising US bond yields, renewed uncertainty after the temporary US-Iran ceasefire expired, and foreign institutional selling.
Cautious Bears
Resilient Bulls
Market direction
Cautious Bears
Technical analysts say the Nifty has slipped below key support at 24,200, and a decisive break below 24,000 could accelerate selling toward 23,850, keeping the near-term bias bearish.
Resilient Bulls
Domestic fundamentals remain supportive, and the pullback may offer entry points; 180 stocks still hit 52-week highs in intraday trade, suggesting underlying strength.
Crude oil and US-Iran tensions
Cautious Bears
Sustained high crude prices near $91 a barrel could strain India's fiscal position, spur inflation, weaken the rupee and trigger aggressive foreign capital outflows.
Resilient Bulls
Fears were driven by hopes of a quick diplomatic settlement, and Iran has said it would attack only if US diplomacy fails, leaving room for a resolution that could ease the pressure.
Key facts
- Sensex close
- 77,235.46 (down 492.70 points / 0.63%)
- Nifty 50 close
- 24,154.90 (down 132.75 points / 0.55%)
- Nifty losing streak
- 6 consecutive sessions
- Brent crude
- USD 91.02 per barrel, up 0.17%
- Worst sectoral index
- Nifty IT, down 1.93%
- FII net selling (Monday)
- ₹2,535.10 crore
- BSE advance-decline
- Nearly 2,400 of 4,500 stocks ended lower
- Key Nifty support zone
- 24,030-24,000 (per SBI Securities)
Quotes
Sudeep Shah
Head of technical and derivatives research, SBI Securities
“Elevated U.S. yields further reduced the attractiveness of emerging markets, and IT stocks led losses amid fears that persistently high interest rates could dampen global technology spending. Although domestic fundamentals continue to be supportive, sustained high crude prices and rising input costs could pressure recent earnings upgrades, prompting investors to remain cautious in the near term.”
livemint.com
“Crude oil remained the primary drag on market sentiment, while rising U.S. bond yields and weak global cues prolonged the risk‑off trend in Indian equities. Investor anxiety increased as hopes for a Middle East resolution faded following the expiration of the temporary U.S.-Iran ceasefire, heightening concerns about renewed inflation.”
livemint.com










