Stock Market Down: Israel-Iran Conflict, Oil Prices Rise

Mumbai, Jun 17 (PTI) Benchmark indices Sensex and Nifty closed lower on Tuesday amid profit-booking after a sharp rally in the previous session as investors turned cautious in view of the ongoing conflict between Israel and Iran.

Besides, investors preferred to stay on the sidelines due to rising global crude oil prices and the upcoming US Fed interest rate decision later this week, according to experts.

The 30-share BSE Sensex declined 212.85 points or 0.26 per cent to settle at 81,583.30. During the day, it dropped 369.14 points or 0.45 per cent to 81,427.01.

The 50-share NSE Nifty dropped 93.10 points or 0.37 per cent to 24,853.40.

From the Sensex pack, Sun Pharma, Eternal, Tata Motors, Bajaj Finance, IndusInd Bank and Bajaj Finserv were among the major laggards.

In contrast, Tech Mahindra, Infosys, Asian Paints and Maruti were among the gainers.

In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled in positive territory, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.

European markets were trading lower in mid-session deals.

US markets ended higher on Monday.

Global oil benchmark Brent crude jumped 1.69 per cent to USD 74.47 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,539.42 crore on Monday, according to exchange data, while Domestic Institutional Investors (DIIs) bought equities worth Rs 5,780.96 crore.

On Monday, the 30-share BSE Sensex jumped 677.55 points or 0.84 per cent to settle at 81,796.15. The Nifty climbed 227.90 points or 0.92 per cent to 24,946.50.