The BSE Sensex shed 212.85 points, or 0.26%, to close at 81,583.30, while the NSE Nifty declined 93.10 points, or 0.37%, to settle at 24,853.40.
The market capitalization of all listed companies on the BSE shrank by Rs 3.51 lakh crore to Rs 447.77 lakh crore.
Sector Watch
On the 30-stock Sensex, Tata Motors, Eterna, Sun Pharma, Bajaj Finance, and IndusInd Bank declined between 1.4% and 2%.
Financial stocks edged lower by 0.4%, with heavyweights HDFC Bank and ICICI Bank slipping 0.3% and 0.2%, respectively.
The Nifty Oil & Gas index dropped 0.7%, pressured by rising crude prices, which pose a risk to commodity importers like India, where oil constitutes a significant share of the import bill.Pharma stocks also came under pressure, with the Nifty Pharma index falling 1.9% after U.S. President Donald Trump signaled impending pharma tariffs. Aurobindo Pharma slid 4%, while Lupin, Granules, and Natco Pharma dropped between 3% and 4%; Laurus Labs, Dr. Reddy’s, Sun Pharma, and Glenmark Pharma declined 2–3%.Shipping stocks reversed course, with Shipping Corporation of India (SCI) and Great Eastern Shipping falling 8.3% and 3%, respectively, as investors booked profits following recent gains and tempered concerns over prolonged disruption to global shipping routes amid signs of easing tensions in the Middle East.
Tata Motors extended losses, shedding 1.7% on Tuesday after a 3.6% decline in the previous session, as several brokerages cut their estimates and flagged concerns over Jaguar Land Rover’s below-expectation margin guidance for FY26.
Expert View
The benchmark equity index experienced moderate losses amid rising risk of an escalation of conflicts in the Middle East ahead of the FOMC meeting, said Vinod Nair, Head of Research at Geojit Investments, adding that “this uncertainty pushed Brent crude prices higher—an unfavourable development for India, given its heavy reliance on oil imports, thereby dampening earnings growth.”
“In the broader market, key sectors such as auto and metals came under selling pressure. Meanwhile, the IT sector witnessed rebalancing, influenced by a strengthening U.S. dollar and anticipation surrounding the Fed’s upcoming interest rate decisions,” said Nair.
By
