Nifty falls for fifth session as brent crude price crosses $91 per barrel mark 

Nifty ended lower for the fifth straight session on Tuesday as brent crude prices crossed the $91 per barrel mark on deadlock over peace talks between US and Iran. The market extended in the final minutes of trade with Sensex ending 493 pts lower at 77,235. Nifty slipped 133 pts to 24,154.

Stocks such as Asian Paints, Infosys, HCL Technologies, Bharti Airtel, TCS, HUL  and IndiGo led the losers on Sensex, falling up to 2.40%.

On Sensex, top gainers were Axis Bank, PowerGrid, M&M, rising up to 0.89%

Sunny Agrawal, Head - Fundamental Research at SBI Securities said, "Benchmark indices traded in the red throughout the day following weak global cues. Sentiment was impacted by the rise in Brent crude oil price to above $91/barrel mark. Private weather forecaster Skymet further cut its monsoon forecast to 85%. The rise in the US bond yields, especially the 30 year tenor to a 19 year high is also acting as a risk off for emerging markets. The broader market breadth too continued to be in favour of declines. Constant supply of paper (IPOs, QIPs, Block Deals) is impacting institutional flows into the secondary market."

Vatsal Bhuva, Technical Analyst at LKP Securities said, "Bank Nifty closed with a small candlestick on the daily chart, remaining below both its 200-DMA and 50-DMA, indicating a cautious to slightly bearish bias. The index has support placed at 57,000, while 57,800 remains the immediate resistance. Across timeframes, there is currently no clear indication of a breakout from this range, highlighting a tug-of-war between bulls and bears. A decisive breakout above 57,800 or breakdown below 57,000 could trigger directional momentum. Until then, the index is likely to remain range-bound and can be traded within these levels."

Previous session 

Nifty fell below 24,300 on August 17. At close, the Sensex was down 281.09 points or 0.36 percent at 77,728.16, and the Nifty lost 78.35 points or 0.32 percent at 24,287.65.