The Sensex fell 373.93 points, or 0.49%, to 76,570.35 on Tuesday, weighed down by a spike in oil prices and rising bond yields.

The Nifty50 closed at 23,914.45, down 141.35 points, or 0.59%, as benchmark indices posted their third straight day of losses.

Overnight strikes exchanged between the US and Iran fuelled fears of oil supply disruptions from the Strait of Hormuz, lifting Brent crude 0.76% to $95.37 a barrel.

Nifty Auto was the worst performer among sectors, down 2%, with IT and Media stocks also lagging, while Oil and Gas, PSU Bank and Realty held up.

Eicher Motors, Wipro and Bajaj Auto featured among the biggest losers on the Nifty50 as rising bond yields dented investor appetite for equities.

Eicher Motors, Wipro and Bajaj Auto were among the top losers on the Nifty50 index during the session.

Broader markets also came under pressure, with the Nifty MidCap index ending 0.53% lower and the Nifty SmallCap index down 0.37%.

This marked the third straight session of losses for the benchmark indices, as rising bond yields further dented investor risk appetite.

Rising bond yields typically make fixed-income investments more attractive relative to equities, prompting some investors to shift allocations away from stocks.

Markets will be closely watching for further developments in the Middle East, given the direct link between regional tensions and global crude oil supply concerns.

The US and Iran exchanged strikes overnight, intensifying fears of further supply disruptions from the Strait of Hormuz, a key global oil shipping route.

Brent crude rose 0.76% to $95.37 per barrel during the session, adding to inflation concerns among investors.

Nifty Auto was the worst-hit sectoral index, declining 2%, with Nifty IT and Nifty Media also underperforming during the session.

In contrast, Nifty Oil and Gas, PSU Bank and Realty indices outperformed, providing some counterbalance to the broader market decline.

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Hy-Tech Engineers’ IPO made a strong market debut on September 1, with shares listing at Rs 75 on the NSE, up 41.51% from the Rs 53 issue price.

The stock extended gains after listing, hitting the 5% upper circuit at Rs 78.75 on the NSE, a total gain of 48.58% over its IPO price.

On the BSE, shares debuted at Rs 72, representing a 35.85% premium over the issue price.

The IPO’s Rs 50-53 price band attracted strong demand, with the issue subscribed 244.41 times overall.

The hydraulic fitting manufacturer raised Rs 135.73 crore through the IPO, and its market valuation stood at approximately Rs 682.94 crore after the debut.

The issue size for the IPO was Rs 135.73 crore, with the mainboard listing on the NSE and BSE having been tentatively planned for September 1 well ahead of the actual debut.

Grey market premium indicators ahead of the listing had signalled a strong debut, with some estimates pointing to gains of up to 81% before the stock’s actual market performance was known.

The overwhelming subscription numbers across all investor categories reflected strong demand for the issue in a market that has seen a mix of hits and misses among recent IPOs.

Upper circuit limits on Indian exchanges cap the maximum single-day price movement for a stock, and Hy-Tech Engineers hitting its 5% upper circuit on debut indicates continued buying interest beyond the opening trade.

Hydraulic fitting manufacturers supply components used across industrial machinery, construction equipment and automotive applications, a sector that has drawn steady investor interest amid India’s infrastructure and manufacturing push.

On the BSE, Hy-Tech Engineers shares debuted at Rs 72, a premium of 35.85% over the issue price, a slightly smaller gain than on the NSE but still a strong listing.

The IPO had a price band of Rs 50-53 per equity share and opened for subscription on August 24, closing on August 27, 2026.

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The Sensex and Nifty closed flat to lower on Tuesday, with the Sensex down 12.99 points, or 0.02%, to 76,944.28.

The Nifty50 slipped 24.60 points, or 0.1%, to end the session at 24,055.80, close to the 24,050 mark.

Banking, pharma, auto and realty stocks slipped during the session, offsetting gains posted by IT and FMCG counters.

The muted close came despite strong domestic GDP data released around the same time, with sector-specific losses outweighing the positive macro news.

IT stocks remained relatively resilient, extending their recent run of outperformance even as the broader indices ended lower.

Markets had been broadly volatile in the days leading up to the session, with sentiment swinging between global cues and domestic sector-specific developments.

Analysts have flagged upcoming domestic earnings commentary and global rate signals as key factors likely to shape near-term direction for the indices.

The Nifty has hovered near the 24,000-24,200 range over recent sessions, with traders watching for a decisive break in either direction.

Sector rotation has been a recurring theme in recent weeks, with gains in one segment of the market frequently offset by weakness in another on the same trading day.

Broader market breadth was mixed during the session, with advances and declines roughly balanced across the wider set of listed stocks beyond the headline indices.

Losses in pharmaceutical, banking, auto and realty stocks weighed on the benchmark indices, offsetting gains posted by information technology and FMCG shares during the session.

The muted close came despite strong GDP data released around the same period, with sector-specific weakness outweighing the broader macroeconomic tailwind.

IT stocks extended their recent run of strength, continuing to outperform the broader market even as other sectors dragged the headline indices lower.

FMCG shares also held up relatively well during the session, providing some counterbalance to the declines in banking and pharma counters.

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