Sensex down 374 pts, Nifty above 23,900 amid West Asia crisis

The Indian share market traded lower on Wednesday following a sharp rise in crude oil prices amid prevailing geopolitical tensions in West Asia.At close, the Sensex was down 373.93 points or 0.49 percent at 76,570.35, and the Nifty was down 141.35 points or 0.59 percent at 23,914.45.
Coal India, Adani Ports, Bajaj Finserv, Adani Enterprises and Tata Motors Passenger Vehicles were the top gainers on the Nifty, while losers included Eicher Motors, Wipro, Bajaj Auto, Asia Paints, M&M.On the sectoral front,except Energy and Oil & Gas, all other sectoral indices ended in the red with Auto, Information Technology, Media down 1.2-1.8 percent.The broader market also ended lower, with Nifty midcap index falling 0.5 percent and smallcap index falling 0.4 percent.
Rupee Close:
On 2 Sep'26,the Indian  rupee traded in a narrow range and fell 2 paise to close at 94.97 against the U.S. dollar on Wednesday , amid renewed U.S.-Iran tensions, higher oil prices and rising Treasury yields, according to agency reports.Forex traders said the RBI is keeping a tab on the rupee's fall as Brent crude prices have risen to $95 per barrel and dollar index is hovering around 99.70 on a bout of risk aversion on renewed U.S.-Iran tensions. Moreover, market participants have raised the probability of a September Fed rate hike, pushing U.S. Treasury yields higher and triggering a broad dollar rally.
Trading Guide:
Market experts recommended five breakout stocks to buy on Wednesday—GHCL Textiles, Gmm Pfaudler, Tarsons Products, Aeroflex Industries, and Sai Life Sciences.

(Business Correspondent)