Current stock market updates: Indian benchmark indices extended their losses in early trade on Tuesday with the BSE Sensex down 552.99 points at 77,063.41 and the NSE Nifty50 down 160.45 points at 24,050.55. This comes after the market closed flat on Monday after recovering from sharp intraday losses, helped by a rally in IT stocks led by TCS, HCLTech and Infosys.
However, sentiment remains volatile as crude oil prices rose to multi-week highs following fresh hostilities between the US and Iran and renewed concerns about disruptions in the Strait of Hormuz.
Brent crude rose to nearly $85 a barrel while the rupee weakened by 30 paise to close at 95.68 against the US dollar, raising concerns over inflation and import costs. Investors will be closely watching developments in the Middle East, global markets, oil prices and the rupee for further cues.
The BSE Sensex rose 827.57 points (1.08%) to close at 77,569.39 on Friday, while the NSE Nifty50 rose 244.10 points (1.02%) to close at 24,206.90, led by gains in heavyweights including Reliance Industries, ICICI Bank and HDFC Bank.
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