India's benchmark equity indices fell for a third and sixth straight session respectively on Tuesday, as elevated crude oil prices and renewed tensions in West Asia weighed on investor sentiment. The BSE Sensex dropped 492.70 points, or 0.63%, to settle at 77,235.46, while the NSE Nifty 50 slipped 132.75 points, or 0.55%, to close at 24,154.90.
The trigger was oil. Brent crude rose to $91.46 a barrel after Iran signalled a more aggressive posture and US President Donald Trump ruled out extending a temporary ceasefire in the region. Investors who had been hoping for a Middle East resolution saw those hopes fade, reviving concerns about imported inflation for an economy that relies heavily on crude imports.
What Pulled the Market Down
Beyond oil, a handful of other pressures compounded the sell-off: rising US Treasury yields made emerging markets like India relatively less attractive to foreign investors, while IT stocks led the losses on worries that persistently high interest rates could dampen global technology spending. From the Nifty pack, Tata Motors Passenger Vehicles, Asian Paints, Wipro, HCL Tech, and Infosys were the steepest decliners, each falling more than 2%.
Sectors in Focus
The damage wasn't evenly spread. Nifty Healthcare and Nifty Auto were among the rare outperformers, while Nifty IT and Nifty Realty saw the sharpest declines. In the broader market, the Nifty MidCap 100 fell 0.43%, while the Nifty SmallCap index closed roughly flat.
Analysts flagged 24,170 as a key support level for the Nifty — a break below that could open the door to a slide toward 23,575.
It wasn't all losses, though. Shares of Indo-MIM jumped 10% after the company reported a 32% rise in its June-quarter profit — a reminder that stock-specific stories kept playing out even as the broader market stayed under pressure. Market watchers expect continued volatility in the sessions ahead, with crude oil prices and any further developments between the US and Iran likely to remain the dominant swing factors.
Views and price levels cited above are from market analysts and are for informational context only — not investment advice. Investors should consult a certified financial adviser before making investment decisions.
Live market coverage, published August 18, 2026. Closing figures as reported at end of trading session.