Sensex, Nifty Slip Amid Global Cues and Crude Oil Surge

Indian equity markets experienced a downward trend on August 12, 2026, as the Sensex shed over 250 points and the Nifty 50 traded below 24,400. This decline followed a negative close on August 11, 2026, where the Sensex settled at 78,154.25 and the Nifty 50 at 24,471.70, largely driven by profit-booking and heightened geopolitical uncertainty in the Middle East.

A significant catalyst for the market's current volatility is the surge in Brent crude oil prices toward $90 per barrel. Higher energy costs have pressured inflation expectations and triggered selling in oil-sensitive sectors, including aviation, tyres, and paints. Additionally, the Indian Rupee's depreciation against the US dollar has further dampened investor confidence, prompting concerns over potential foreign portfolio outflows.

Analysts are closely monitoring the 24,200-24,700 range for the Nifty 50, with immediate support identified near 24,300. Meanwhile, corporate activity remains robust with Q1 earnings announcements from major firms like Tata Motors, Grasim Industries, and HAL. Specific corporate developments, such as L&T’s ₹1,400 crore business transfer to Vyoma.AI and strong profit growth from Manappuram Finance, provide pockets of resilience amidst the broader market downturn. Investors are also noting August 12 as a critical 'Astro Date' due to the total solar eclipse, which some market experts argue could set the tone for broader index movements this quarter.