India's Sensex and Nifty closed lower for a second straight session on September 8, 2026, as rising crude oil prices and U.S.-Iran hostilities weighed on sentiment. Banking stocks were among the biggest laggards, while Brent crude jumped to $98.36 a barrel.
Sensex, Nifty extend losing streak
The BSE Sensex dropped 555.23 points, or 0.73%, to settle at 75,577.58 on Tuesday. During the session, it fell as much as 579.46 points, or 0.76%, to 75,553.35.
NSE's Nifty ended 144.05 points, or 0.61%, lower at 23,635.10. ICICI Bank, Axis Bank, UltraTech Cement, Kotak Mahindra Bank, Reliance Industries and HDFC Bank were the session's biggest laggards, while Bharat Electronics, Adani Ports, Hindustan Unilever and InterGlobe Aviation gained.
The session extended Monday's losses, when the Sensex fell 382.62 points, or 0.50%, to 76,132.81 and the Nifty declined 118.55 points, also 0.50%, to 23,779.15.
Oil prices climb on West Asia tensions
Brent crude, the global oil benchmark, jumped 1.45% to $98.36 per barrel, as U.S.-Iran hostilities kept risk appetite subdued. According to Ponmudi R, CEO of Enrich Money, Indian equities were "extending their slide to a seven-week low" amid elevated crude oil prices and persistent geopolitical uncertainty.
Among BSE sectoral indices, Insurance declined 1.05%, Top 10 Banks 0.97%, Private Banks 0.88%, Financial Services 0.80%, Oil & Gas 0.64%, Bankex 0.63% and Energy 0.48%. The BSE MidCap Select index climbed 0.79%, while the SmallCap Select index ended flat, down 0.06%.
Asia and Europe follow the slide
South Korea's Kospi, Japan's Nikkei 225 and Hong Kong's Hang Seng also ended lower, while Shanghai's SSE Composite settled higher. Markets in Europe were trading lower, and U.S. markets stayed closed Monday for the Labour Day holiday.
Foreign Institutional Investors bought equities worth ₹280.13 crore on Monday, exchange data showed.
Source: The Hindu
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