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08.09.202610:53:43UTC+00Sensex Closes at Near 3-Month Low

India’s BSE Sensex closed about 0.7% lower on Tuesday at 75,577.6, its weakest level since June and the index’s second straight session of losses. Sentiment remained under pressure amid a continued rally in crude oil prices and escalating tensions in the Middle East, while investors also remained wary of volatility linked to the new closing-auction pricing mechanism.

Banking heavyweights were among the main drags. ICICI Bank fell 2%, while Axis Bank and HDFC Bank slipped 1.7% and 1.1%, respectively. Reliance Industries and UltraTech Cement also declined, each losing around 1.2%.

On the upside, defense stocks outperformed after the government granted in-principle approval for military procurements worth about $11 billion. Shares of Bharat Electronics Limited (BEL) and other defense companies rose around 1.5%. Adani Ports gained 1.1%, Hindustan Unilever advanced 0.8%, and IndiGo added 0.5%.

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