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Indian Equities Fall as Rising Oil Prices and Global Uncertainty Weigh on Sentiment

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Indian benchmark indices closed lower on Tuesday, snapping a two-session winning streak, as weak global cues and a rise in crude oil prices triggered profit booking.

The BSE Sensex declined 479.26 points, or 0.6%, to close at 76,009.70, while the NSE Nifty 50 fell 118.00 points, or 0.5%, to settle at 23,913.70.

Market sentiment remained cautious after U.S. strikes on Iran reduced expectations of a near-term peace agreement. Reports of military activity in southern Iran pushed crude oil prices higher and added pressure on the Indian rupee.

In earnings news, Marksans Pharma (NSE:MARKSANS, BOM:524404) surged 16% after fiscal fourth-quarter consolidated net profit rose to 1.48 billion rupees from 905.5 million rupees a year earlier. Revenue from operations increased to 8.56 billion rupees from 7.08 billion rupees.

Adani Green Energy (NSE:ADANIGREEN, BOM:541450) gained over 3% after the company said its step-down subsidiaries operationalized battery energy storage system projects and a solar energy project in Gujarat, India.

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