Sensex ends 493 points lower, Nifty below 24,200; IT stocks tank

The BSE Sensex closed 492.70 points, or 0.63%, lower at 77,235.46, while the Nifty 50 fell 132.75 points, or 0.55%, to 24,154.90. Tuesday marked the Nifty's sixth straight losing session, while the Sensex has declined in five of the last six sessions.Equity benchmarks fell on Tuesday amid rising crude prices and US bond yields.Equity benchmarks extended their losing streak on Tuesday as rising crude oil prices, higher US bond yields and fading hopes of an early end to the Iran war kept investors cautious. Weakness in IT stocks added to the pressure, with the Nifty IT index falling nearly 2%.The BSE Sensex closed 492.70 points, or 0.63%, lower at 77,235.46, while the Nifty 50 fell 132.75 points, or 0.55%, to 24,154.90. Tuesday marked the Nifty's sixth straight losing session, while the Sensex has declined in five of the last six sessions.The Sensex opened at 77,418.97 and moved between a high of 77,575.21 and a low of 77,234.36 during the session.CRUDE REMAINS THE BIGGEST WORRYBrent crude remained around $91 a barrel on Tuesday, while WTI crude was trading at $84.99 a barrel. Brent has risen about 9% in less than two weeks as hopes of an early resolution to the Iran conflict faded.Iran has threatened to take a "fully offensive" military posture as efforts to negotiate a permanent end to the war with the US have stalled. Washington has also ruled out extending the temporary ceasefire, adding to concerns about disruption to energy supplies.For India, higher crude prices are a key concern as the country is a major oil importer. Sustained high oil prices can raise import costs and increase inflation risks.Vinod Nair, Head of Research at Geojit Investments Limited, said crude oil remained the primary drag on market sentiment, while rising US bond yields and weak global cues prolonged the risk-off trend in Indian equities."Investor anxiety increased as hopes for a Middle East resolution faded following the expiration of the temporary U.S.-Iran ceasefire, heightening concerns about renewed inflation," Nair said.IT STOCKS LEAD THE SELL-OFFIT stocks were among the biggest losers of the day. The Nifty IT index fell 1.93%, with most major IT stocks ending sharply lower.Infosys was the biggest Sensex loser, falling 2.02%. HCLTech declined 1.93%, TCS fell 1.47% and Tech Mahindra dropped 0.83%. ITC also fell 1.15%.Nair said IT stocks were under pressure amid fears that persistently high interest rates could dampen global technology spending.The weakness extended beyond the large IT names, with the Nifty Midcap IT & Telecom index falling 1.05%.SENSEX GAINERS AND LOSERSMost Sensex stocks ended lower, although a handful of stocks managed to buck the trend.Axis Bank was the top Sensex gainer, rising 0.89%. Power Grid gained 0.66%, while M&M advanced 0.47%. Bajaj Finance rose 0.27%, Larsen & Toubro gained 0.15% and Reliance Industries edged up 0.08%. Bajaj Finserv and NTPC also ended marginally higher.On the losing side, Asian Paints fell 2.40%, Infosys declined 2.02% and HCLTech dropped 1.93%. Bharti Airtel fell 1.75%, TCS declined 1.47% and Hindustan Unilever lost 1.41%.Ultratech Cement fell 1.28%, IndiGo declined 1.23%, ITC dropped 1.15%, Kotak Mahindra Bank fell 1.11% and SBI lost 0.97%.12 OF 16 SECTORS END LOWERThe sell-off was broad-based, with 12 of the 16 major Nifty sectoral indices ending in the red.The Nifty IT index was the biggest sectoral loser, falling 1.93%. Nifty Realty declined 1.42%, while Nifty PSU Bank fell 1.01%. Nifty FMCG lost 0.77% and Nifty Metal declined 0.61%.Nifty Financial Services 25/50 fell 0.49%, while Nifty Private Bank declined 0.23%. Nifty Healthcare and Nifty Pharma, however, gained 0.21% and 0.08%, respectively.Nifty Auto rose 0.30%, while Nifty Media gained 0.40%. Nifty Oil & Gas also edged up 0.20%, showing some resilience despite elevated crude prices.BROADER MARKET ALSO WEAKThe broader market also ended lower, although small-cap stocks were relatively more resilient.The Nifty 100 fell 0.49%, while the Nifty 200 and Nifty 500 declined 0.48% and 0.39%, respectively. The Nifty Midcap 50 fell 0.34%, while the Nifty Midcap 100 declined 0.43%.The Nifty Smallcap 100 ended flat. The India VIX rose 0.52% to 11.39, indicating some increase in market caution.HIGHER US YIELDS ADD TO PRESSUREThe rise in US bond yields added another layer of pressure for emerging markets. The US 10-year Treasury yield climbed to 4.73%, making emerging-market assets relatively less attractive for foreign investors.Nair said elevated US yields had reduced the attractiveness of emerging markets and added to the risk-off trend."Although domestic fundamentals continue to be supportive, sustained high crude prices and rising input costs could pressure recent earnings upgrades, prompting investors to remain cautious in the near term," he said.The Indian rupee also weakened, ending down 0.1% at 95.68 against the US dollar.With crude oil remaining close to $91 a barrel, investors are likely to continue watching developments in the Middle East, US bond yields and their impact on foreign fund flows.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsPublished On: Aug 18, 2026 15:37 IST