Sensex, Nifty end lower as Tata stocks drag markets after Chandrasekaran exit

The BSE Sensex fell 187.90 points, or 0.24%, to close at 77,966.35, while the NSE Nifty 50 declined 35.75 points, or 0.15%, to end at 24,435.95.Tata Group stocks remained under pressure following the exit of the group's chairman, adding to the cautious mood among investors.Domestic stock markets ended lower on Wednesday as rising crude oil prices, fresh concerns over tensions in the Middle East and selling in several Tata Group stocks weighed on investor sentiment.The BSE Sensex fell 187.90 points, or 0.24%, to close at 77,966.35, while the NSE Nifty 50 declined 35.75 points, or 0.15%, to end at 24,435.95.The rupee also weakened against the US dollar, adding to concerns in the market. It fell 0.14% to 95.4350 as higher crude prices increased pressure on India's import bill.TCS, M&M AND TATA STEEL AMONG MAJOR LAGGARDSSelling was seen in several large-cap stocks during the session. TCS was the biggest loser among the major stocks, falling 3.71%. Mahindra & Mahindra declined 1.67%, while Tata Steel dropped 1.57%. Tata Group stocks remained under pressure following the exit of the group's chairman, adding to the cautious mood among investors.On the other hand, State Bank of India gained 1.31% and Bharti Airtel rose 1.16%. UltraTech Cement climbed 0.56%, while Reliance Industries and Bharat Electronics gained 0.45% and 0.50%, respectively. Vinod Nair, Head of Research at Geojit Investments Limited, said investors remained cautious as markets waited for key inflation data from India and the US. "Markets remained on edge ahead of key inflation readings in India and the U.S., with policymakers on both sides underscoring a data-driven approach amid heightened global uncertainty," Nair said.CRUDE OIL PRICES RISE AGAINCrude oil once again became a major concern for Indian investors. Brent Crude rose 2.22% to $89.67 a barrel, while West Texas Intermediate (WTI) crude gained 2.36% to $84.07.Oil prices have risen as uncertainty around the Strait of Hormuz and the chances of a US-Iran deal continue to weigh on the global market. Hopes of an agreement that could ease tensions and allow normal shipping through the key oil route have weakened.For India, higher oil prices are a concern because the country imports a large share of its crude oil needs. A sustained rise in crude prices can increase the country's import bill, put pressure on inflation and raise costs for businesses.Nair said the rise in crude prices had brought inflation worries back into focus. "The sharp rebound in crude prices shifted market attention back to inflation risks, tempering investor enthusiasm despite a supportive earnings backdrop," he said.He added that concerns over possible disruptions in the Strait of Hormuz and uncertainty around US-Iran negotiations kept investors cautious ahead of important inflation data."The resulting risk-off sentiment weighed on sectors most vulnerable to higher energy costs, while pharma and select IT names emerged as relative gainers. Nevertheless, robust foreign inflows and encouraging corporate earnings are limiting the downside risk," Nair said.PSU BANKS BUCK THE TRENDWhile the broader market remained weak, PSU banks continued to perform well.Nair said public sector banks were supported by strong asset quality, attractive valuations and expectations of healthy credit growth. Metal stocks also performed relatively better as investors looked at the possibility of tighter supply conditions."Defying the broader weakness, PSU banks extended gains on the back of robust asset quality, attractive valuations and healthy credit growth outlooks, while metal stocks outperformed on expectations of tighter supply conditions," he said.However, large-cap stocks faced greater pressure, partly because of weakness in Tata Group companies. "Meanwhile, Tata Group stocks came under pressure following the Chairman's exit, contributing to the underperformance of large-cap stocks relative to the broader market," Nair added.IT AND FMCG STOCKS UNDER PRESSURESectoral indices also showed a mixed trend.Nifty Infrastructure gained 0.27%, while Nifty Energy rose 0.18% and Nifty Pharma edged up 0.05%. On the other hand, Nifty Consumer Durables fell 0.45%, Nifty FMCG declined 0.73%, Nifty IT dropped 1.54% and Nifty Auto slipped 0.32%.The Nifty Smallcap 100 index declined 0.18%, while the India VIX, a measure of market volatility, fell 1.58%.Overall, the market remained cautious as investors weighed rising oil prices and geopolitical uncertainty against strong corporate earnings and foreign fund inflows. With inflation data from India and the US due to provide fresh clues on the interest-rate outlook, investors are likely to remain watchful in the near term.- EndsPublished By: Jasmine anandPublished On: Aug 12, 2026 16:33 IST