India's Sensex slips 0.5% as crude at $87.7 dents sentiment

India's BSE Sensex (Bombay Stock Exchange benchmark index) fell about 0.5% to 78,187 on Tuesday, giving back the previous session's gains as stronger crude prices unsettled investors and revived concerns about inflation and pressure on corporate earnings. Brent crude rose to a one-week high of $87.7 a barrel amid renewed geopolitical tensions and fading hopes for a near-term U.S.-Iran agreement, a development that matters for oil-importing India because higher energy costs can feed into prices and company margins. BSE Ltd remained in focus after the National Stock Exchange said the exchange operator would replace Wipro in the Nifty 50 (India's benchmark stock index) from September 30. Adani Group stocks also stood out after a U.S. judge dismissed the fraud and bribery case against Gautam Adani while criticizing the Justice Department's decision to drop the charges. Among the main decliners were Bharat Forge, down 2.2%, Himadri, down 1.5%, Bajaj Finance, down 1.1%, BSE Ltd, down 1.0%, and Vedanta, down 1.0%.

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India's Sensex slips 0.5% as crude at $87.7 dents sentiment - CoinPost Terminal