FX.co ★ Sensex Retreats on Oil Concerns

India’s BSE Sensex fell around 0.5% to 78,187 on Tuesday, erasing the previous session’s gains as rising crude oil prices dampened risk appetite and intensified concerns over inflation and corporate earnings. Brent crude advanced to a one-week high of $87.7 per barrel amid renewed geopolitical tensions and diminishing expectations of a near-term US–Iran agreement, a development that poses particular challenges for oil-import-dependent India.

On the corporate front, BSE Ltd. remained in focus after the National Stock Exchange announced that the exchange operator will replace Wipro in the benchmark Nifty 50 index effective September 30. In contrast, Adani Group stocks may see support after a US judge dismissed a fraud and bribery case against Gautam Adani, while also criticizing the US Department of Justice’s decision to abandon the prosecution.

Among notable laggards were Bharat Forge (-2.2%), Himadri (-1.5%), Bajaj Finance (-1.1%), BSE Ltd. (-1.0%), and Vedanta (-1.0%).