Stock market today ended lower with the benchmark indexes, Sensex and Nifty, loosing second straight day on Wednesday, August 12, as heavy selling among shares of the Tata Group and crude oil prices weighed on investor confidence. The BSE Sensex declined 187.90 points, or 0.24%, to settle at 77,966.35, while the NSE Nifty50 fell 35.75 points, or 0.15%, to close at 24,435.95.

Key Highlights

• Sensex fell 188 points to 77,966, while Nifty declined 36 points to close below 24,450 amid crude oil concerns.
• Tata Group stocks came under pressure after N Chandrasekaran announced he would not seek another term as Tata Sons chairman.

Tata Group Stocks Under Pressure

The Tata Group's shares are also under pressure due to Tata Sons Chairman N Chandrasekaran, announcing that he will not be seeking reappointment as his current role is set to expire on February 20, 2027. TSMC's share price slipped 5.70%, Tata Motors Passenger Vehicles down 4.11 per cent. Tata Consumer Products, Tata Elxsi, Tata Communications and Tata Steel also saw declining closing prices.

The Sensex had dipped as low as 656 points on the day and the Nifty reached as low as 24,276 at the intraday low before gaining some ground by the session's end.

Also Read: Indian benchmark Indices End Lower Amid Crude Oil Surge

Crude Oil, Geopolitical Risks Weigh on Markets

Another major worry for investors was the prospect of US-Iran talks for a deal on the price of crude and other potential disruptions in the Middle East oil supply. Brent crude was trading close to $88.76 a barrel at the close.

Investors had cautioned about the impact of the high oil prices on inflation and business expenses, and that is still a concern. The global stock market were also quiet, as Wall Street stocks closed down in the last trading session, despite the rally in Asia's technology shares.

Some key stock market winners included State Bank of India, Bharti Airtel, UltraTech Cement and Power Grid. But, on the other hand, some prominent laggards included TCS, Mahindra & Mahindra, Tata Steel, Larsen & Toubro, Eternal and Infosys.

Future events that could impact crude prices, geopolitical activity and global inflation statistics are likely to remain market triggers, keeping investors on their toes for the time being.