Markets drift lower in early trade amid higher oil prices, fresh U.S.-Iran tensions
The 30-share BSE Sensex declined 121.48 points to 76,835.79 in early trade; the 50-share NSE Nifty dipped 52.6 points to 24,027.80
On Tuesday, September 1, 2026, Indian stock market indices Sensex and Nifty opened lower in early trade due to rising oil prices and heightened tensions between the United States and Iran, which dampened investor sentiment. U.S. Federal Reserve officials' anticipation of maintaining a tighter monetary policy for an extended period also contributed to the bearish market sentiment.
The BSE Sensex fell 121.48 points to 76,835.79, while the NSE Nifty declined 52.6 points to 24,027.80. Among the 30 companies in the Sensex, Bajaj Finserv, InterGlobe Aviation, Titan, State Bank of India, Bajaj Finance, and Axis Bank were among the major underperformers. Conversely, ITC, HCL Tech, Bharti Airtel, and Infosys were among the top gainers.
Brent crude oil, the global benchmark, rose 0.76% to $91.22 per barrel. Despite the negative market sentiment, analysts noted that India's domestic economy showed resilience, with real GDP expanding 7.8% in the first quarter of FY27, surpassing both the Reserve Bank of India's 7% projection and market expectations. The faster-than-expected growth in India's economy was seen as a positive factor amid external headwinds such as the renewed US-Iran tensions and the resulting increase in crude oil prices.
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