Indian Markets Fall 6th Day as Crude Oil Hits $91

Indian equity markets extended their losing streak on Tuesday, August 18, 2026, with benchmark indices closing lower for a sixth consecutive session as elevated crude oil prices and fading hopes for a diplomatic resolution in the Middle East weighed heavily on investor sentiment. The S&P BSE Sensex fell 492.70 points, or 0.63%, to settle at 77,235.46, while the NSE Nifty 50 declined 132.75 points, or 0.55%, to end at 24,154.90.

The sustained market weakness was primarily driven by a sharp rise in global oil prices. Brent crude, the international benchmark, climbed to around $91 per barrel, with escalating tensions between the United States and Iran following the expiration of a temporary ceasefire. Market participants expressed concern that prolonged uncertainty could keep energy prices elevated, exacerbating inflationary pressures and increasing India's import bill. "Crude prices have been responding to news from the Middle East for many months... Now, there is total uncertainty about the outcome of this conflict," said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments.

Adding to the pressure were rising U.S. bond yields, with the 10-year Treasury yield...