Mumbai, April 28: The Indian stock market closed lower on Tuesday, marking a decline amid rising Brent crude prices due to uncertainties surrounding a potential peace agreement between the United States and Iran amid tensions in West Asia.
At the end of trading, the 30-share BSE Sensex fell by 416.72 points, or 0.54%, closing at 76,886.91. Meanwhile, the NSE Nifty50 dropped 97 points, or 0.40%, settling at 23,995.70.
During the day, the Sensex opened at 77,094.79, reaching an intra-day high of 77,493.53 and a low of 76,741.06. The Nifty50 opened at 24,049.90, hitting an intra-day high of 24,181.80 and a low of 23,957.05.
Broader markets outperformed the benchmark indices, with the Nifty Smallcap 100 index rising by 0.42% and the Nifty Midcap 100 index increasing by 0.28%.
Sector-wise, nearly all sectoral indices traded in the red, except for Nifty Oil and Gas, which saw a rise of 1.55%, and Nifty Metal, which increased by 0.51%.
The most significant declines were observed in the Nifty PSU Bank, down 2.15%, followed by Nifty Private Bank, which fell by 1.23%, and Nifty Auto, down 1.01%.
Among the Nifty 50 pack, shares of Axis Bank, Maruti, HCL Tech, Shriram Finance, Indigo, ICICI Bank, Bajaj Auto, SBI, and Infosys were among the top losers.
Conversely, shares of ONGC, Adani Enterprises, and Coal India experienced gains of 5-3%. Additionally, Nestle India, Bharti Airtel, Tech Mahindra, Eternal, and Tata Steel closed in the green.
Brent crude traded up 2.98% at $111.46 per barrel, as the crucial Strait of Hormuz remained closed.
Reports indicate that U.S. President Donald Trump is dissatisfied with Iran’s proposal, as Iran has suggested an agreement to reopen the Strait of Hormuz without mentioning its nuclear program until conflicts in West Asia are resolved.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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