Sensex, Nifty Decline Around Midday Amid Iran Uncertainty

Mumbai, Aug 4: Indian equity benchmarks retreated around midday on Tuesday, pulling back from Monday’s four-day rally as investors booked profits amid Middle East uncertainty. The BSE Sensex was trading 164.70 points, or 0.21 per cent, lower at 78,474.33 at 12.22 pm, while the Nifty 50 fell 255.80 points, or 1.03 per cent, to 24,518.50 at 12.23 pm. The retreat came even as Wall Street closed sharply higher on Monday on easing US-Iran tensions, after Trump said talks with Tehran were under way, a claim Iran promptly denied, underscoring that a breakthrough in the war remains elusive.

Gainers & Losers 

Among stocks, Trent (TRENT) led gainers, rising 0.93 per cent to Rs 3,078.5 from Rs 3,050, while Hindalco (HINDALCO) advanced 0.84 per cent to Rs 1,003.3 against Rs 994.9. Apollo Hospitals (APOLLOHOSP) gained 0.54 per cent to Rs 8,868 from Rs 8,820, Eternal (ETERNAL) rose 0.21 per cent to Rs 311.15 from Rs 310.5, and Tech Mahindra (TECHM) added 0.18 per cent to Rs 1,652 from Rs 1,649.  

Grasim (GRASIM) was the biggest laggard, tumbling 3.4 per cent to Rs 3,149.2 from Rs 3,260, followed by HDFC Life (HDFCLIFE), down 3.31 per cent to Rs 534.8 against Rs 553.1. SBI Life (SBILIFE) dropped 2.62 per cent to Rs 1,864.9 from Rs 1,915, Bajaj Auto (BAJAJ-AUTO) slid 2.43 per cent to Rs 11,568 from Rs 11,856, and Titan (TITAN) fell 2.29 per cent to Rs 4,885.5 from Rs 5,000. 

Broad Markets & Sectoral Performance 

Among broad market indices, the Nifty Microcap 250 bucked the trend to gain 0.49 per cent, the Nifty Smallcap 100 rose 0.32 per cent and the Nifty Smallcap 500 added 0.25 per cent, while the headline Nifty 50 slid 1.06 per cent, the Nifty 100 fell 0.95 per cent and the Nifty 200 lost 0.87 per cent.  

On the sectoral front, the Nifty Media climbed 0.69 per cent, the Nifty Metal rose 0.29 per cent and the Nifty EV and New Age Automotive index gained 0.12 per cent, while the Nifty Realty index fell 1.74 per cent, the Nifty Private Bank index shed 1.39 per cent and the Nifty IT index dropped 1.36 per cent, giving back Monday’s tech led gains. 

Iran War 

The Middle East conflict remained the dominant overhang, even as hopes of a thaw flickered briefly. Trump said talks with Iran were under way and called it a last chance for Tehran to sign a deal, but Iranian officials flatly denied any negotiations were scheduled. The dispute over the Strait of Hormuz, through which a fifth of global oil and gas once flowed, remains the central flashpoint. Tanker traffic through Hormuz slowed further after fresh reports of vessel attacks. 

Asian & US Markets  

Asian markets were mixed on Tuesday morning, with Australia’s All Ordinaries and Vietnam’s HNX 30 advancing while Japan’s Nikkei 225 and Hong Kong’s Hang Seng slipped. Pakistan’s KSE 100 stood out among gainers, while China’s Shanghai Composite traded flat with a mild negative bias. US markets closed sharply higher on Monday, with the Dow surging over 693 points to a record close and the Nasdaq jumping more than 2 per cent on easing Iran war fears. The S&P 500 also advanced over 1.4 per cent, a broad-based rally across all three indices. 

Oil Prices 

Oil prices ticked higher on Tuesday after tumbling in the previous session, with Brent crude rising 0.7 per cent to around 84.39 dollars a barrel after a seven per cent slide on Monday to a three-week low. WTI crude recovered 0.7 per cent to near 80.95 dollars, having fallen over 5 per cent a day earlier. The rebound came even as the Hormuz standoff kept a floor under prices, with analysts warning fresh escalation could send crude sharply higher again.  

Indian Markets in Morning Session 

Indian markets had opened lower on Tuesday, extending caution after Monday’s sharp gains, with the Nifty 50 slipping below 24,700 shortly after the bell. The Sensex briefly traded higher in early deals before turning red as the session progressed. The mixed start came even as global cues stayed constructive, with Wall Street’s record close failing to translate into buying on Dalal Street. Selective, stock specific action prevailed as investors weighed fragile ceasefire prospects against resilient global risk appetite. 

Source

• NSE, BSE, Reuters
• https://www.reuters.com/world/asia-pacific/trump-says-iran-talks-take-place-monday-sets-no-deadline-deal-2026-08-02/
• https://www.reuters.com/markets/stocks/americas/
• https://www.reuters.com/business/energy/oil-ticks-up-after-selloff-talks-end-us-iran-war-remain-uncertain-2026-08-04/