India Stocks: India's Nifty logs longest losing streak in 11 months on higher crude, Treasury yields

Prism Johnson

19/08/2026 11:09

Updates for markets close
By Bharath Rajeswaran and Vivek Kumar M
Aug 19 (Reuters) - Indian shares fell on Wednesday, with high crude oil prices and rising global bond yields weighing on appetite for risk assets globally.
The Nifty 50 index .NSEI has fallen for seven straight sessions, its longest losing streak in 11 months, dropping 2.1% over the period. The BSE Sensex .BSESN dropped in six out of seven sessions, dipping 2.1%. 
On the day, the Nifty 50 slid 0.32% to 24,078.30 and the Sensex lost 0.42% to 76,909.68. 
"Risk appetite in Indian market appears to have weakened considerably with Nifty witnessing sustained, gradual selling pressure," said Sudeep Shah, head of technical and derivatives research at SBI Securities.
"The primary factor weighing on investor sentiment has been the sharp surge in crude oil prices as the geopolitical situation in West Asia continues to show little sign of easing."
Brent crude LCOc1 rose to a three-week high, hovering around $92 a barrel after U.S. President Donald Trump said Tuesday that no talks were underway with Iran and the Strait of Hormuz remained open.
His comments contradicted Iran's claim that the vital waterway was closed to shipping, dimming hopes for a deal to end the nearly six-months long Middle East conflict.
Meanwhile, long-term borrowing costs in the US, Germany and Japan hit multi-decade highs, weakening emerging-market equities' appeal as higher risk-free returns attract capital to developed-market bonds. 
Fourteen of the 16 major sectors logged losses. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 dipped 0.5% and 0.2%, respectively. 
High weightage financials .NIFTYFIN shed 0.4%, dragged by 0.7% and 0.6% drop in ICICI Bank ICBK.NS and Axis Bank AXBK.NS. 
IT index .NIFTYIT rose 0.7% after dropping 4% in the last three sessions.
Bucking the broader trend, Indraprastha Gas IGAS.NS, Mahanagar Gas MGAS.NS gained 1.7% and 1.5% on the government's incentives to city gas distributors to boost domestic connections of piped cooking gas.
Temasek-backed e-commerce logistics services firm Shiprocket SIPO.NS jumped about 48% in debut trade.

 (Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Subhranshu Sahu and Mrigank Dhaniwala)
 ((VivekKumar.M@thomsonreuters.com;))