India’s benchmark stock market indices, the Sensex and Nifty, closed lower for the second consecutive session on Tuesday, September 29, amid elevated crude oil prices and persistent geopolitical tensions. The BSE Sensex declined 242.65 points, or 0.33%, to settle at 72,529.07, while the NSE Nifty 50 fell 64.05 points, or 0.28%, to close at 22,716.20.

Key Highlights

• Sensex fell 242.65 points, while Nifty 50 declined 64.05 points amid elevated crude prices and geopolitical tensions.
• Nifty Realty dropped around 2%, while midcap and smallcap indices also ended Tuesday’s session lower.

Investor sentiment was still weak due to the backlash of higher oil prices and global bond yields of all countries becoming volatile. U.S. interest rate expectations helped lift prices for Brent crude futures to $106.93 per barrel as worries about financial conditions in the world dampened by doubts about U.S. economic growth.

Realty, IT and Consumer Durables Stocks Lead Sectoral Declines

The majority of the indices in the various sectors were negative in the National Stock Exchange, with Nifty Chemicals, Nifty Consumer Durables, Nifty Realty, and Nifty IT being the big losers. The Nifty Realty index dropped by about 2%, whereas the Nifty Pharma and Nifty Healthcare indices did better than the other indexes.

The Nifty Midcap 100 and Nifty Smallcap 100 decreased by 0.99% and 0.81% respectively in the broad market. Titan Company, Wipro and HCLTech were the biggest losers in the Nifty 50. On the other hand Infosys and Wipro and Tata Elxsi opened at their 52-week lows during the trading session.

Indian rupee, too, was being watched, as it fell to its lowest level in two-months against the US dollar during intraday trade. The 10-year government bond yield in India increased to 7.19%, the highest level since April 2024.

Also Read: India's Real Estate Investment Hits Record $9.5 Billion in Q3 2026

LKP Securities' Senior Technical Analyst, Rupak De, stated that the 200-week moving average support of Nifty at 22,600 is a critical level. He added the immediate resistance in the market will be at 22,800 while a break below the level may trigger a more significant correction.

The reason behind the pressure in the stock market is volatile crude prices, high interest rates on US Treasury bonds, Foreign Institutional Investors (FIIs) selling, and rupee pressure said Vinod Nair, Head of Research, Geojit Investments. He further said that the de-escalation of the US-Iran conflict could boost investor sentiment and market participants are shifting their attention towards the second quarter earnings.