India's Equity Benchmarks Extend Losing Streak to Fifth Day Amid Crude Oil Surge and US Tariffs

The Indian equity benchmarks continued their downward trend for the fifth consecutive day on July 24, influenced by rising crude oil prices and fresh US tariffs. The SENSEX fell by 332 points or 0.43% to close at 76,060, while the NIFTY50 index dropped 102 points to end at 23,767.

The surge in Brent Crude futures above $100 per barrel amid rising geopolitical tensions in West Asia weighed on investor sentiment. The US imposed new tariffs on its trading partners, ranging from 10% to 12.5%, citing inadequate enforcement of bans on goods produced by forced labor.

Key sectors such as auto and finance were among the hardest hit, with the NIFTY Auto index declining by 1.1%. Broader markets also felt the pressure, with the NIFTY Midcap 100 index dropping 0.1% and the NIFTY Smallcap 100 index falling 0.3%.

However, some individual stocks bucked the trend, including Dr Lal Path Labs, which rose over 4% after reporting a significant increase in its consolidated net profit.