Sensex Settles 555 Points Lower, Nifty Below 23,650, ICICI Bank Drops 2% as Banks Drag

Sensex Closes 555 Points Down, Nifty Loses 0.61% as Brent Nears USD 100/ Barrel

Get latest articles and stories on Business at LatestLY. Indian benchmark indices closed lower on Tuesday, weighed down by rising crude oil prices as Brent crude neared the USD 100 per barrel mark amid escalating tensions in West Asia and also weekly expiry of Nifty 50 index. Business News | Sensex Closes 555 Points Down, Nifty Loses 0.61% as Brent Nears USD 100/ Barrel.

Sensex settles 555 points lower, Nifty below 23,650, ICICI Bank drops 2% as banks drag

Among sectoral indices, Nifty Private Bank and Nifty IT dropped 0.98 per cent and 0.37 per cent, respectively. However, Nifty Pharma outperformed, gaining 0.77 per cent.

Axis Bank to ICICI Bank - Why banking stocks are falling today?

Shares of ICICI Bank and Axis Bank fell more than 2% each on the NSE, while HDFC Bank’s stock price declined around 1%.

Closing Bell: Sensex down 555 pts, Nifty below 23,650; banks drag, media gains

Top Nifty losers were ICICI Bank, Axis Bank, SBI Life Insurance, Reliance Industries, UltraTech Cement, while gainers included Bharat Electronics, ONGC, HUL, Eicher Motors and Adani Ports. Among sectors, Private Bank index shed 1%, Oil & Gas index down 0.7%, Nifty Bank down 0.5% and IT index shed 0.4%, while Media index added 1.4%, Pharma index rose 0.7% and FMCG index gained 0.4%. The Nifty midcap and smallcap indices ended marginally higher.

Stock Market Highlights, Sept 8: Sensex down 555 pts, Nifty ends at 23,635 as crude oil nears $100

Sensex, Nifty, Share Prices Highlights: Indian shares extended losses on Tuesday ​as oil surged toward $100 a barrel on escalating Middle East ‌tensions, while elevated volatility deepened declines in the Nifty ​during the closing auction for the ⁠weekly expiry of derivative contracts.