Crude Oil Prices Dent Investor Sentiment as BSE Indices Slide
The Bombay Stock Exchange indices Sensex and Nifty closed lower on August 19, as rising crude oil prices amid a lack of diplomatic resolution following the end of the U.S.-Iran ceasefire dented investor sentiment.
Elevated crude oil prices have renewed concerns over a prolonged disruption to energy supplies. Brent crude jumped 1.04% to $91.97 per barrel on August 19.
The Sensex was down 325.78 points, or 0.42%, to settle at 76,909.68, registering its fourth day of decline. The Nifty declined 76.60 points, or 0.32%, to end at 24,078.30.
Vinod Nair, Head of Research, Geojit Investments Ltd., said that 'markets turned cautious ahead of the release of the U.S. FOMC minutes, as investors remained concerned that the Federal Reserve’s battle against inflation may continue.'