Why Is Indian Stock Market Down Today? Sensex, Nifty Fall as Rising Oil Prices and FII Selling Weigh on Sentiment
India, Sept. 29 -- The Indian stock market is under selling pressure today, Tuesday, September 29, with BSE Sensex and NSE Nifty trading close to six-month lows after rising crude oil prices and high US Treasury yields dampened market sentiment. FII selling activity is also pressuring the market.
According to Reuters, the Nifty 50 Index was down 0.77% at 22,606.10, and the BSE Sensex was 0.82% lower at 72,179.87 at 9:50 am IST. The two key indices were down around 0.9% at the start of the session, marking the lowest levels in early April.
The immediate pressure on the stock market comes from rising crude oil prices. The Brent crude futures rose around 1.5% to $107 a barrel due to persisting worries over the Middle Eastern oil supply ami...
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