Indian equities ended lower on 8 September, extending recent weakness as elevated crude oil prices and concerns over the escalating West Asia conflict kept risk appetite subdued. Nifty 50 closed at 23,635.10, down 144.05 points or 0.61%, after trading between 23,623.10 and 23,758.95, with the index remaining under pressure for most of the session. Financial services led the drag, with Nifty Private Bank and Financial Services declining 0.98% and 0.93%, respectively. Oil & gas fell 0.67%, and IT slipped 0.37%. In contrast, defensive pockets provided support: Media (+1.31%), pharma (+0.77%), healthcare (+0.63%), FMCG (+0.35%), and auto (+0.28%). Market breadth was moderately negative, with 1,711 stocks advancing, 1,833 stocks declining, and 104 remaining unchanged, translating into an advance-decline ratio of about 0.93:1. Rising crude prices remained a key macro concern for India. At the same time, global uncertainty and U.S. rate expectations also weighed on sentiment.
