The domestic equity market extended the losing momentum for the third day this week amid escalating tensions in the Middle East and a rise in crude oil prices. At the time of writing, Sensex, the 30-share index of BSE, was trading at 76,881.48, 0.76 per cent or 588.63 points. Nifty50 was quoted at 24,015.10, 0.71 per cent or 172.60 points.
According to one expert, rising crude oil prices and sustained geopolitical tensions have reduced risk appetite in the market. Brent crude, the global benchmark, rose 1.15 per cent to US$92.06 a barrel.
Top Losers And Gainers
Except for Titan, Asian Paints, Eternal, and Maruti, all other participants of the Sensex were trading in negative territory. Indigo, SBI, Axis Bank, Sun Pharma, Infosys, Reliance, ICICI Bank, HDFC Bank and Tata Steel were the top losers.
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International Market
South Korea's Kospi jumped 5.16 per cent in Asian markets. Japan’s Nikkei 225 Index and Shanghai’s SSE Composite Index were also highly traded, while Hong Kong’s Hang Cheng Index was undervalued.
US markets rose higher on Tuesday.
Foreign institutional investors turned buyers on Tuesday. They had purchased equity worth Rs 1,650.16 crore in earlier trades, according to exchange data.
The Sensex closed down 238.41 points, or 0.31 per cent, at 77,470.11 on Tuesday. The Nifty closed down 50.80 points, or 0.21 per cent, at 24,187.70.