Mumbai, Aug 12: Indian stock markets ended lower for the second consecutive session on Wednesday, as higher crude oil prices and uncertainty in the Middle East weighed on investor sentiment.
The Sensex fell 188 points, or 0.24 per cent, to close at 77,966.35, while the Nifty 50 declined 36 points, or 0.15 per cent, to end at 24,435.95.
Both indices had fallen nearly 1 per cent during the trading session before recovering most of their losses by the close.
The broader market remained mixed. The Nifty Midcap 100 gained 0.28 per cent, while the Nifty Smallcap 100 slipped 0.18 per cent.
Rising crude oil prices remained a key concern for investors. Brent crude moved close to $90 a barrel amid continued uncertainty over the situation in the Middle East and possible disruptions to oil supplies.
Higher oil prices are a concern for India because the country depends heavily on imported crude. A prolonged rise in prices could put pressure on inflation, the rupee and corporate earnings.
Investors also remained cautious ahead of inflation data from India and the United States, which could influence expectations about future interest-rate decisions.
Over the past two trading sessions, the Sensex has lost nearly 600 points, while the Nifty 50 has declined around 0.60 per cent.
Market participants are now expected to closely track crude oil prices, global developments and upcoming economic data for further direction.
The market’s recovery from its intraday lows, however, indicated that investors continued to find buying opportunities in selected stocks despite the overall cautious mood.
