Sensex, Nifty fall as crude nears $90, IT stocks drag

Indian benchmark indices Sensex and Nifty fell on Monday, August 17, 2026, as rising crude oil prices and West Asia tensions hit investor sentiment. The 30-share BSE Sensex dropped 281.09 points (0.36 per cent) to settle at 77,728.16. The 50-share NSE Nifty declined 78.35 points (0.32 per cent) to 24,287.65, extending losses to a fifth session, Deccan Herald reports. rediff.com adds that the Sensex had declined 284.85 points to 77,717.05 in early trade.

IT stocks were the biggest laggards, with Infosys, TCS, HCL Tech, and Tech Mahindra among the losers on the Sensex. Brent crude traded at $89.50 a barrel, up 1.11 per cent, according to Deccan Herald. rediff.com reported Brent near $88 a barrel. IndiaTV News says the fall came amid persistent uncertainty over the US-Iran conflict and lack of progress on reopening the Strait of Hormuz. FIIs were net buyers on Friday, purchasing equities worth Rs 508.12 crore.

Analysts expect Indian markets to remain range-bound with a cautious bias due to the geopolitical risks. The next key event for markets is the outcome of the US-Iran tensions and any development on crude oil prices.