Sensex, Nifty closed the day in red amid FII selling,crude spike

The Indian equity market closed in the red on Tuesday as indices struggled to maintain momentum against a backdrop of global volatility and persistent selling by foreign investors. The BSE Sensex finished the trading session at 76,886.91 points, registering a decline of 416.72 points or 0.54 per cent. Similarly, the NSE Nifty 50 ended the day at 23,995.70 points, down by 97.00 points or 0.40 per cent.Rising crude oil prices are another major factor dampening sentiment. Brent Crude was trading at USD 111.30, up 2.84 per cent, while crude oil overall showed gains of over 3 per cent.
The Nifty 50 index opened at 24,049.90, declining by 42.80 points or 0.18 per cent, while the BSE Sensex started the session at 77,094.79, down by 208.84 points or 0.27 per cent. Market experts attributed the subdued sentiment to persistent global factors and shifting investor preferences.
Earlier, the market opened on a tepid note, tracking mixed trends in global equities. The Sensex and Nifty turned positive for a while but lost momentum during afternoon trade and ended lower amid the monthly expiry of Nifty futures and options contracts. Elevated crude oil prices and ongoing geopolitical uncertainties also weighed on the market.
The Indian rupee weakened by 41 paise to close at 94.56 (provisional) against the US dollar on Tuesday, as rising crude oil prices and continued foreign capital outflows amid escalating geopolitical tensions weighed on investor sentiment.
Forex traders noted that the rupee has already seen a sharp decline, factoring in concerns over a widening Current Account Deficit (CAD) and volatile capital flows. Sustained foreign fund outflows also added pressure, with Foreign Institutional Investors (FIIs) withdrawing over USD 19 billion from Indian equities so far this year.