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Sensex Tanks 493 Points; Nifty Falls for 6th Day as Crude Oil Jumps to $91/barrel
Indian shares fell for a fifth straight session as Brent crude rose nearly 1% to $89 a barrel and quarterly earnings ended, limiting market triggers.
- On Monday, Indian shares retreated as the Nifty fell 0.32% to 24,287.65 and the 30-stock BSE Sensex lost 0.36% to 77,728.16.
- Elevated crude oil prices, with Brent futures rising nearly 1% to $89 per barrel, and stalled progress in the Iran war kept investor sentiment depressed as the quarterly earnings season ended.
- Stock exchange BSE slid 3.3% after Jefferies downgraded it to "underperform" from "hold," while Edtech platform PhysicsWallah jumped 2.4% following a narrower first-quarter loss report.
- Across the broader market, Nine of the 16 major sectors fell; Effective Monday, stock exchanges introduced shorter-tenor contracts in the SLB segment to facilitate price alignment.
- Small-Caps and mid-caps rose 0.4% and 0.1%, respectively, as Motilal Oswal analysts noted the earnings season "demonstrated widespread outperformance across all key aggregates.
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Top Gainers & Losers on 17 August: NMDC Steel, LG Electronics, BSE, Tata Tech, Infosys, Voltas among top losers
Indian stocks remained subdued on August 17, with the Nifty down 0.11% and the Sensex down 0.19% due to ongoing Middle East conflicts and high crude oil prices. Despite this, midcap and small-cap indices saw slight gains.
·New Delhi, India
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Total News Sources19
Leaning Left1Leaning Right7Center2Last UpdatedBias Distribution70% Right
Bias Distribution
- 70% of the sources lean Right
70% Right
C 20%
R 70%
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