Sensex, Nifty turn red; European markets open near flatline

The key equity benchmarks pared all recovery gains and traded in the negative territory in afternoon trade. The Nifty traded below the 24,050 level. Bank, financials and auto stocks led the decline while FMCG, IT and metal shares bucked the trend.

At 13:29 IST, the barometer index, the S&P BSE Sensex, was down 12.52 points or 0.02% to 76,944.75. The Nifty 50 index lost 32.30 points or 0.13% to 24,048.10.

In the broader market, the BSE 150 MidCap Index fell 0.51% and the BSE 250 SmallCap Index rose 0.09%.

The market breadth was negative. On the BSE, 1,835 shares rose and 2,343 shares fell. A total of 249 shares were unchanged.

Gainers & Losers:

ITC (up 4.58%), HCL Tech (up 4%), Adani Ports (up 3.41%), Bharti Airtel (up 3.26%) and Reliance Industries (up 1.97%) were the top gainers.

Shriram Finance (down 4.37%), Nestle India (down 3.21%), Indigo (down 3%), Asian Paints (down 2.92%) and Max Healthcare (down 2.73%) were the top losers.

Stocks in Spotlight:

Tata Motors fell 1.40%. The company has reported total commercial vehicle (CV) sales of 44,411 units in August 2026, which is higher by 49% as compared with the sales figure of 29,863 units recorded in August 2025.

Maruti Suzuki India declined 3.67%. The company has reported total sales of 219,220 units in August 2026, up 21.3% YoY, with growth led by the domestic passenger-vehicle business. The total sales for August 2025 period were 180,683 units.

Steel Strips Wheels jumped 7.29%. The company reported its second consecutive record monthly turnover in August 2026, with net turnover rising 53.6% to Rs 592.92 crore during the month from Rs 385.98 crore recorded in August 2025.

Global Markets:

European equities held flat while their Asian counterparts traded in red on Tuesday as an intensifying global bond market rout and escalating military hostilities in the Middle East severely dampened appetite for risk assets.

Investors were also assessing the prospect of further Federal Reserve rate hikes following hawkish comments from Fed Chair Kevin Warsh.

Wall Street ended lower on Monday, with rising Treasury yields and higher oil prices weighing on risk assets. The S&P 500 fell 0.33%, the Nasdaq Composite declined 0.12% and the Dow Jones Industrial Average dropped 0.70%. The market is also looking ahead to the US nonfarm payrolls report due on Friday, which could provide fresh clues on the Federal Reserve's policy path.

Oil prices climbed above $90 a barrel after the US and Iran resumed military strikes following a period of relative calm. US forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz, while Iran retaliated with attacks on US military targets in Jordan. The escalation has raised concerns over prolonged supply disruptions through the key oil shipping route.

Brent crude settled at $90.49 a barrel on Monday, up 2.71%, while the US 10-year Treasury yield rose to around 4.75%. Higher oil prices have revived concerns over persistent inflation, potentially strengthening the case for tighter monetary policy.

The renewed conflict has also increased uncertainty over the outlook for the Strait of Hormuz, through which a significant share of global oil shipments normally passes. Shipping activity has fallen sharply amid the hostilities, adding to concerns about further supply disruptions.

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