Sensex tanks 493 points as crude jumps

Market benchmark indices ended lower on Tuesday, with the Sensex falling 493 points and the Nifty dropping to the 24,154.90 level, as elevated crude oil prices and fading hopes of a diplomatic breakthrough in West Asia weighed heavily on investors’ sentiment.

The 30-share BSE Sensex was down 492.70 points, or 0.63 per cent, to settle at 77,235.46, registering its third day of decline. During the fag-end of trade, it tanked 493.8 points, or 0.63 per cent, to 77,234.36. 
The 50-share NSE Nifty declined for the sixth day, sliding 132.75 points, or 0.55 per cent, to end at 24,154.90.

From the Sensex pack, Asian Paints, Infosys, HCL Tech, Bharti Airtel, Tata Consultancy Services, and Hindustan Unilever were among the major laggards.
Axis Bank, Power Grid, Mahindra & Mahindra, and Bajaj Finance were among the winners.

The BSE MidCap Select index declined 0.46 per cent, while the SmallCap Select index was up 0.24 per cent.
Among sectoral indices, Focused IT tanked 1.84 per cent, IT Realty (1.28 per cent), PSU Bank (1.04 per cent), Consumer Durables (0.81 per cent), FMCG (0.67 per cent), Metal (0.47 per cent), and Capital Goods (0.47 per cent).
MidSmall Private Banks Quality Tilt, MidSmall Private Banks, Hospitals and Healthcare were the winners.

Brent crude, the global oil benchmark, went up 0.17 per cent to $91.02 per barrel.

“Crude oil remained the primary drag on market sentiment, while rising US 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 US-Iran ceasefire, heightening concerns about renewed inflation,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.