Language Settings
Select Website Language
newshunt
newshunt

Why Is The Stock Market Down Today? Crude Oil, US-Iran Tensions Weigh On Sensex, Nifty

9 hours ago

2

0

👍 ❤️ 😂 😮 😢 😡

Indian equity markets remained under pressure on Tuesday as rising crude oil prices and renewed tensions between the US and Iran weakened investor sentiment. At 12:03 PM, the Nifty 50 was trading 96.80 points, or 0.40 per cent, lower at 24,114.20.

At 12:02 PM, the BSE Sensex was down 352.38 points, or 0.45 per cent, at 77,264.02. Selling pressure was visible across the broader market as well. The Nifty Midcap index declined around 0.37 per cent, while the Nifty Smallcap index slipped 0.57 per cent. The Nifty Bank and Nifty Financial Services indices were down around 1.2 per cent during the morning session as heavyweight private banks came under selling pressure.

Market breadth remained cautious, suggesting that the weakness was not restricted to a handful of index heavyweights. The Nifty Auto index was among the biggest sectoral laggards, falling around 1.6 per cent. Rising crude oil prices raised concerns over higher fuel expenses and crude linked input costs for automobile companies.

Also read : Bank Holiday This Week: SBI, HDFC Bank, Others Closed For 4 Days Between July 13-19

Banking, financial services and realty stocks also remained under pressure. On the positive side, the Nifty Pharma index gained around 0.8 per cent, supported by strength in Biocon. Metal and FMCG stocks also traded in positive territory. Welspun Corp, APL Apollo Tubes and Hindustan Zinc were among the stronger metal counters. Just Dial surged as much as 13 per cent after its Q1FY27 revenue rose 9.9 per cent to Rs 327.5 crore, while net profit increased 4.1 per cent to Rs 166.2 crore.

The stock extended its post results rally for the second consecutive session. PDS jumped around 11 per cent after securing a sourcing contract from the global procurement arm of a French headquartered supermarket group. Biocon rose up to 6 per cent following a large block deal linked to Mylan’s proposed stake sale. HCLTech, meanwhile, declined nearly 3 per cent despite reporting a 20.3 per cent rise in Q1 net profit, as brokerages remained cautious about its unchanged growth outlook and premium valuation. In the previous session on July 13, foreign institutional investors sold Indian equities worth Rs 3,062.27 crore.

Domestic institutional investors provided partial support by purchasing shares worth Rs 2,171.70 crore. Global cues also remained weak. Wall Street ended lower overnight, with the S&P 500 falling 0.8 per cent and the Nasdaq declining 1.6 per cent. Asian markets remained volatile, while the broader Asia Pacific index dropped 1.7 per cent.

Also Read : Monsoon Trouble For India's Farms? Kharif Sowing Falls 16%, Pulses Hit Hardest

Brent crude traded near USD 84.72 per barrel after touching USD 85.64, adding to inflation and currency concerns for India. For the remainder of the session, the Nifty’s 24,000 level remains an important support zone, while 24,250 to 24,300 could act as resistance. Traders will track weekly expiry volatility, crude oil movements, US inflation data and ongoing Q1 earnings announcements. The figures mentioned are Intraday and may change during the session. 

(“Disclaimer: This article uses information originally published by Dalal Street Investment Journal (DSIJ). The views expressed are those of the original authors and not necessarily of ABP Network Pvt. Ltd. This content is provided for general informational and educational purposes only and should not be construed as investment, financial, legal or tax advice. Readers are advised to conduct their own research and/or consult a qualified financial advisor before making any investment decisions. This content is for informational purposes only and should not be treated as investment advice. ABP Network, its employees and associates shall not be responsible or liable for any losses or damages arising directly or indirectly from the use of or reliance on this article or any information contained herein.”)

Click here to Read More
  • Share:
Gold Silver Rate Today (July 14): Metals Inch Up, Check Latest Rates In Delhi, Mumbai, Chennai, More
Previous Article
Gold Silver Rate Today (July 14): Metals Inch Up, Check Latest Rates In Delhi, Mumbai, Chennai, More
Next Article
Bank Holiday This Week: SBI, HDFC Bank, Others Closed For 4 Days Between July 13-19
Bank Holiday This Week: SBI, HDFC Bank, Others Closed For 4 Days Between July 13-19

Related Business Updates:

Are you sure? You want to delete this comment..! Remove Cancel

Comments (0)

    Leave a comment

    Send