Oil Shock Hits Dalal Street; Sensex, Nifty Extend Losing Streak

What Happened

Indian stock markets remained under pressure on Tuesday as escalating Middle East tensions pushed Brent crude above $91 a barrel, raising concerns over inflation and India's import bill. The Sensex fell about 300 points and the Nifty slipped below 24,250, with IT stocks leading losses while energy and defensive names such as Reliance, ONGC and Sun Pharma provided some support.