Mumbai: The domestic stock market declined for the second consecutive day on Tuesday amid the ongoing tension and related uncertainty in West Asia. BSE Sensex fell 242.65 points or 0.33 percent to close at 72,529.07 amid the rise in crude oil prices and continuous selling by foreign institutional investors (FIIs). Whereas NSE Nifty fell by 64.05 points or 0.28 percent and stood at 22,716.20 points.
Sensex slipped by 708 points during trading
There were fluctuations in Sensex during trading. At one time it had fallen by 707.72 points and reached 72,064 points. However, it later recovered some losses and closed at 72,529.07 points.
Among the 30 Sensex companies, Titan, HCL Technologies, Tata Consultancy Services, UltraTech Cement, Hindustan Unilever and Tech Mahindra were major losers.
On the contrary, shares of Adani Ports, Sun Pharma, Tata Steel and Kotak Mahindra Bank closed with gains.
Pressure from FII selling also
According to market data, foreign institutional investors had sold shares worth Rs 5,353.22 crore on Monday. Meanwhile, the global oil standard Brent crude fell by 0.09 percent at $ 105.1 per barrel.
According to Vinod Nair, Head of Research, Geojit Investments Limited, there is pressure on the market due to reasons like rising crude oil prices, US bond yields remaining at their highest level for almost two decades and continuous selling by FIIs. He said that amid pressure on the rupee, the decline in the domestic stock market continues.
According to Nair, the rapid capital raising through IPOs is also draining out excess cash from the market. The risk appetite of investors also remains weak due to the increasing possibility of policy rate hike this year amid tight monetary stance globally.
Mixed trend in Asian markets also
Among the major markets of Asia, South Korea's Kospi, Japan's Nikkei and Hong Kong's Hang Seng closed with losses. Whereas China's Shanghai SSE Composite remained in the lead. A bullish trend was seen in the major markets of Europe during afternoon trading.
US markets closed with a decline on Monday.
Strong fall on Monday also
Earlier on Monday, the Sensex fell by 1,124.02 points and closed at 72,771.72 points. This was the lowest closing level of Sensex since March 30, 2026. Whereas Nifty closed at 22,780.25 points with a fall of 360.25 points.
Also read: