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NIFTY50, Sensex fall for third straight session
Upstox··19 Aug
NIFTY50 and Sensex fell for a third straight session on Wednesday, each down about half a percent, as 110 stocks including HDFC Bank, ITC, IRFC and Hindustan Unilever hit fresh 52-week lows on the NSE. NIFTY50 traded near 24,039 and Sensex near 76,857 by early afternoon, with Coal India, Power Grid and Bajaj Finance among the top losers.
Prism
What It Means For You
- Investors holding blue-chip stocks like HDFC Bank, ITC or HUL are seeing near-term price declines despite steady business fundamentals.
- Rising Brent crude prices could push up fuel costs for Indian households and businesses if the trend continues.
- The market weakness reflects global factors like the Hormuz standoff, not solely domestic company-specific issues.
What's Happening
- NIFTY50 and Sensex each fell about 0.5 percent, extending declines to a third straight session on Wednesday.
- 110 stocks including HDFC Bank, ITC, IRFC and Hindustan Unilever hit fresh 52-week lows on the NSE.
- Brent crude traded near 92 dollars a barrel amid the ongoing US-Iran standoff over the Strait of Hormuz.
Why Oil Prices Are Rattling Dalal Street
- Nearly a fifth of the world's oil and gas shipments pass through the Strait of Hormuz, which remains disrupted by the war.
- India imports about 90 percent of its crude oil, making it directly exposed to swings in global oil prices.
- The US 10-year Treasury yield near 4.7 percent is also drawing investors toward safer assets.
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