Markets end lower as crude oil surge weighs; mid, small caps outperform

MUMBAI: Indian benchmark indices closed lower on Tuesday, tracking a sharp rise in global oil prices amid fresh geopolitical uncertainty in West Asia.

The Nifty and the Sensex both ended lower as investors turned cautious over escalating tensions involving the United States and Iran.

At the closing bell, Sensex was at 76,886.91, down by 416.72 points or 0.54 per cent. The Nifty was at 23,995.70, down by 97 points or 0.40 per cent.

Adani Ports, ITC, Bharti Airtel and Tech Mahindra among top gainers on Sensex. On the other hand, HCL Tech, Axis Bank, ICICI Bank and Infosys was among top laggards.

However, the broader markets showed resilience and outperformed the benchmarks. The Nifty MidCap and the Nifty SmallCap indices closed higher by 0.28 per cent and 0.42 per cent, respectively.

Sectorally, banking stocks remained under pressure, with the Nifty PSU Bank and the Nifty Bank emerging as the top laggards.

In contrast, oil-linked and commodity stocks gained traction, pushing the Nifty Oil & Gas and the Nifty Metal higher.