Indian equity markets came under fresh pressure on Tuesday, September 29, as rising crude oil prices and global geopolitical concerns affected investor sentiment. The Nifty 50 was down about 0.77% at 22,606.1, while the Sensex declined 0.82% to 72,179.87 during morning trading. Brent crude rose around 1.5% to $107 a barrel. Since India imports a large share of its crude oil requirements, higher oil prices can increase the country’s import bill and add pressure on inflation. Banking, financial and IT stocks were among the sectors facing selling pressure. Tata Motors, HDFC Bank, ICICI Bank and Reliance Industries were among major stocks that declined. Analysts quoted by Reuters said rising US Treasury yields and elevated crude prices were also weighing on market sentiment. Some companies, however, moved higher after announcing major orders. NCC gained after securing a large construction order, while Ellenbarrie Industrial Gases also advanced following a BHEL order.
