SENSEX ends 479 points lower, NIFTY50 drops 0.49% on profit booking post rally; details here

Key factors like the latest geopolitical developments in the negotiations between the United States and Iran, lower crude oil prices, and rising fears of a potential escalation of the West Asia conflict were driving the stock market sentiment on Tuesday.

At the closing bell, the NIFTY50 index closed 0.49% or 118 points lower at 23,913.70 points after Tuesday’s trading session, compared to 24,031.70 points at the previous market session, according to the exchange data.

The BSE SENSEX index closed 0.63% or 479 points lower at 76,009.70 points after the trading session on May 26, compared to 76,488.96 points at the previous market session, as per the exchange filing.

The exchange data showed that the benchmark indices after opening lower recovered during the morning market session, trading with marginal gains. Later, during the afternoon trading hours, the indices dropped into the red as investors booked their profits during the intraday session.

The latest report showed that the United States carried out ‘self defense strikes’ on Southern Iran, targeting missile launch sites and boats which were trying to lay mines across the Strait of Hormuz.

Key focus will remain on any positive developments emerging from the negotiations between the two countries in the conflict, while investors keep an eye out for any cues of escalations in case Iran decides to retaliate.

Crude oil prices were trading lower on the backdrop of Tuesday’s trading session. Investing.com data showed that the Brent crude oil prices were trading 2.33% higher at $95.62 per barrel (bbl), compared to $93.42 per bbl at the previous market session.

Top gainers & losers today

Stocks like Apollo Hospitals, Wipro, Bharti Airtel, Trent, TCS, and Titan dragged down the benchmark index, emerging as the top losers after Tuesday’s trading session, according to NSE data.

Apollo Hospitals lost 1.65%, Wipro lost 1.6%, Bharti Airtel lost 1.4%, Trent lost 1.4%, TCS lost 1.16%, and Titan shares dropped 1% as of the end of the trading session.

While other stocks like Adani Enterprises, Tata Motors PV, Tech Mahindra, Eternal, Nestle India, and Bajaj Auto were among the top gainers after Tuesday’s trading session, as per the exchange data.

Adani Enterprises gained 4.33%, Tata Motors PV gained 3.3%, Tech Mahindra up 1.7%, Eternal up 1.3%, Nestle India up 1.2%, and Bajaj Auto gained 1% as of the stock market close on May 26.