Sensex and Nifty Extend Losses as Rising Oil Prices Hurt Sentiment

Indian equity markets remained under pressure on Tuesday, 8 September, as rising crude oil prices and escalating tensions in the Middle East reduced investors’ appetite for risk.

The Sensex fell around 0.5%, while the Nifty slipped to around 23,669 during the session. Selling was seen across several sectors, including financials and private banks, while broader mid-cap and small-cap indices also weakened.

The biggest concern for domestic investors remains crude oil. Brent crude moved closer to $98 per barrel, increasing worries about India’s import bill and inflation because the country depends heavily on imported oil. The continuing US-Iran tensions have further added uncertainty to global markets.