Stock market recap: Indian equities extended their losses for a second consecutive session on Tuesday as crude oil prices surged past $98 per barrel, deepening concerns about inflation and import costs.
Nifty 50 fell 144.05 points, or 0.61%, to close at 23,635.10, while Sensex dropped 541.32 points, or 0.71%, to settle at 75,591.49. Brent crude's sharp rise came after a proposed Iran-Oman arrangement to manage the Strait of Hormuz shipping failed to ease supply concerns, keeping West Asia tensions in focus.
Oil & gas and banking were among the weakest sectors, while capital goods and healthcare bucked the trend, aided by the Defence Acquisition Council clearing proposals worth more than ₹1.1 trillion, which lifted defence-linked names.
Among individual stocks, Bandhan Bank, Hindustan Copper, GE Vernova T&D, and Symphony posted sharp gains, while BPCL, HPCL, and Apollo Tyres declined on rising crude costs. Voltas, United Breweries, and ICICI Lombard slipped to fresh 52-week lows. Market breadth was balanced, with 1,711 stocks advancing, 1,833 stocks declining, and 104 unchanged. Elevated crude prices and geopolitical developments in West Asia remain the key overhangs for the market.
Buy: Hindustan Aeronautics Limited (current price: ₹5,030)