India’s BSE Sensex fell about 0.5%, down at 73,720 on Tuesday, retreating from gains in the previous session amid rising uncertainty over a US deadline for Iran to reopen the Strait of Hormuz. Oil prices climbed to around $110 per barrel and could spike further if the conflict escalates. Adding to market volatility, the Reserve Bank of India’s rate decision on Wednesday is in focus, with interest rates expected to remain steady at 5.25%, but guidance remains key.
Meanwhile, metals stocks such as Hindalco Industries and Vedanta could benefit as geopolitical tensions tighten supply and push commodity prices higher. Financials, producer manufacturing, energy, and consumer non-durables stocks were among the decliners, while technology and non-energy posted modest gains. Among individual stocks, Reliance Industries (-0.6%), HDFC (-0.7%), Jubilant FoodWorks (-6.8%), and Eternal (-1.6%) were in negative territory, while Hindalco (+3.4%), Vedanta (+2.1%), and CreditAccess (+6.2%) gained.
