Market:Sensex down 1677 pts,Nifty fall 2% amid weak global cues

The domestic share market closed the session on a weak note on Wednesday, amid weak global cues, rise in crude oil prices to over 6 percent, and escalating geopolitical tensions in the Middle East.At close, the Sensex was down 1,677.12 points or 2.15 percent at 76,503.60, and the Nifty was down 516.65 points or 2.12 percent at 23,882.05.
ONGC, Hindalco Industries, Coal India and Bajaj Auto were the top gainers on the Nifty, while losers included Jio Financial, Interglobe Aviation, Shriram Finance, Maruti Suzuki, HUL.On the sectoral front,the performance remained broadly weak, with all major indices ending in the red, while the India VIX surged nearly 25 percent, a biggest gain since April 2025.Among broader indices, Nifty Midcap 100 shed 1.5 percent and Nifty Smallcap 100 index declined 2.2 percent.
Rupee Close:
On 8 Jul'26,the Indian rupee ended 59 paise lower to close at 95.55 against the US dollar on Wednesday, as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar.
According to agency reports,following the strikes, global crude oil prices rose exponentially. Brent crude, the global oil benchmark, was trading higher by 6.16 per cent at USD 78.73 per barrel in futures trade.Weak domestic equity markets further weighed on the local unit, according to forex traders.
Trading Guide:
Market experts recommended five shares to buy on Wednesday: Sona Blw Precision Forgings, Havells India, Gland Pharma, LTM, and India Nippon Electricals.

(Business Correspondent)