Mumbai: Market benchmark indices Sensex and Nifty declined in early trade on Tuesday as elevated crude oil prices and rising tensions in West Asia weighed heavily on investors’ sentiment.
The 30-share BSE Sensex was down 278.32 points to 77,450.64 in early trade. The 50-share NSE Nifty edged lower by 57.65 points to 24,230.45.
From the Sensex pack, Bharti Airtel, Asian Paints, InterGlobe Aviation, Infosys, HCL Tech, and Tech Mahindra were among the major laggards.
Bharat Electronics and Titan were the only winners.
Brent crude, the global oil benchmark, traded 0.43 per cent higher at USD 88.86 per barrel.
“Crude oil remains the principal concern, with Brent holding near USD 88 a barrel after renewed US warnings against Iran pushed prices higher on Friday, keeping the geopolitical risk premium firmly embedded in energy markets,” Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a research analyst firm, said.
In Asian markets, Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index traded higher.
US markets ended lower on Friday.
