Markets extend losses in late trade

Indian equity markets extend losses in late afternoon session as rising global crude oil prices kept investors on edge. The Brent crude oil prices have surged past the $100 a barrel mark amid escalating tensions in West Asia after U.S. military destroyed five Iranian crude tankers in retaliation for attempted attacks on an American warship. Besides, persistent weakness in rupee weighed on market risk sentiment. The Indian rupee has weakened against the US dollar by 30 paise to trade at 95.05. Further, market participant remained cautious after Crisil Ratings said that Rainfall Distortion Index (RDI) records a deficiency score of 14.4 as of September 4, 2026 making this the most spatially distorted monsoon in a decade. The renewed weakening in rainfall during August, coupled with expectations of a deficient September, could pose risks to the upcoming rabi season. 

On the global front, Asian equity markets were trading mixed amid rising expectation of interest rate hike by Federal Reserve. European equity markets were trading lower as tensions between US and Iran showed no sign of easing.

The BSE Sensex is currently trading at 74977.49, down by 600.09 points or 0.79% after trading in a range of 74914.79 and 75251.23. There were 7 stocks advancing against 23 stocks declining on the index.

The top gaining sectoral indices on the BSE were Metal up by 1.95%, Utilities up by 1.27%, Power up by 0.94%, Basic Materials up by 0.69% and Energy up by 0.45%, while IT down by 3.20%, TECK down by 2.38%, Realty down by 1.59%, FMCG down by 0.86% and Auto down by 0.48% were the top losing indices on BSE.

The top gainers on the Sensex were Adani Ports & SEZ up by 4.01%, Tata Steel up by 2.36%, Trent up by 1.39%, NTPC up by 0.80% and Power Grid Corporation up by 0.28%. On the flip side, Infosys down by 4.72%, HCL Technologies down by 4.43%, Tech Mahindra down by 3.75%, TCS down by 2.04% and Hindustan Unilever down by 2.03% were the top losers.

Meanwhile, Union Coal Minister G Kishan Reddy has assured that there is no need to worry about the coal stocks for power plants. He added that India has 123 million tonnes of coal available which is (sufficient) for 51 days (reserve) in the country. However, he admitted that there were issues related to coal production due to weather conditions (monsoon) for around ten days, but now there is no problem. 

Meanwhile, he said that the production of coal has increased with a reduction in rains in the country and coal production can be increased further if the weather continues to be favourable. Further, India has witnessed 4.5% year-on-year growth in dry fuel production. He also added that the coal companies have 100 million tonnes of coal in transit, and power companies have 23 days of coal stock.

On coal gasification scheme, he said that the government has received seven applications in the Round 1 of the Rs 37,500 crore scheme for Promotion of Surface Coal/Lignite Gasification Projects. The bids were submitted by NTPC, Adani Enterprises, Talcher Fertilisers, Gallantt Ispat and Shyam Sel & Power. The response underscores growing industry confidence in coal gasification as a key pillar of India's energy security, import substitution and industrial development strategy.

The CNX Nifty is currently trading at 23492.85, down by 142.25 points or 0.60% after trading in a range of 23466.65 and 23571.55. There were 14 stocks advancing against 36 stocks declining on the index.

The top gainers on Nifty were Adani Enterprises up by 4.95%, Max Healthcare Institute up by 4.48%, Adani Ports & SEZ up by 3.89%, Coal India up by 2.91% and Tata Steel up by 2.30%. On the flip side, Infosys down by 4.71%, HCL Technologies down by 3.89%, Tech Mahindra down by 3.54%, HDFC Life Insurance down by 3.03% and Wipro down by 2.41% were the top losers.

Asian equity markets were trading mixed; Nikkei 225 slipped 99.33 points or 0.15% to 65,170.00, Hang Seng declined 83.18 points or 0.33% to 25,234.00, Jakarta Composite plunged 17.27 points or 0.26% to 6,669.17 and Straits Times fell 31.87 points or 0.55% to 5,735.58, while Taiwan Weighted added 77.58 points or 0.16% to 47,183.36, KOSPI increased 97.12 points or 1.38% to 7,051.64 and Shanghai Composite strengthened 10.96 points or 0.28% to 3,951.51.

European equity markets were trading lower; UK’s FTSE 100 decreased 38.95 points or 0.36% to 10,772.71, France’s CAC fell 82.48 points or 0.99% to 8,235.50 and Germany’s DAX lost 206.03 points or 0.79% to 25,801.60.