India’s BSE Sensex slipped about 0.5% to 73,720 on Tuesday, giving back gains from the previous session amid rising uncertainty over a US-imposed deadline for Iran to reopen the Strait of Hormuz. Oil prices climbed to around $110 per barrel and could surge further if the conflict intensifies.
Adding to the volatility, investors are focused on the Reserve Bank of India’s policy decision on Wednesday. While the benchmark interest rate is widely expected to be held steady at 5.25%, the central bank’s forward guidance will be closely watched for clues on the future policy path.
In sector moves, metals stocks such as Hindalco Industries and Vedanta advanced on expectations that geopolitical tensions could tighten supply and support higher commodity prices. By contrast, financials, producer manufacturing, energy, and consumer non-durables were among the main laggards, while technology and non-energy names posted modest gains.
At the individual stock level, Reliance Industries (-0.6%), HDFC (-0.7%), Jubilant FoodWorks (-6.8%), and Eternal (-1.6%) traded lower. On the upside, Hindalco (+3.4%), Vedanta (+2.1%), and CreditAccess (+6.2%) rose.