Indian equity benchmarks extended their decline for a second consecutive session on Tuesday, pressured by crude oil prices hovering near $90 a barrel and escalating geopolitical tensions in West Asia.
The Nifty 50 slipped further as investor sentiment remained fragile, with foreign institutional investors continuing to sell equities amid the macroeconomic headwinds.
The sell-off reflects a broader reversal of recent upward momentum in Indian markets.
Earlier in the week, benchmarks had given up early morning gains by midday, driven by a weakening rupee and the same elevated energy costs that are now weighing on the index.
The persistent drag from high oil prices is intensifying concerns about import bills and inflationary pressure, which continues to spook risk-averse capital.
Despite the weakness in the benchmark index, the broader market demonstrated notable resilience.