Indian benchmark indices extended their losses on Monday, August 17, 2026, with the Sensex falling more than 500 points and the Nifty slipping below the 24,250 mark. At the latest levels, the Nifty 50 was around 24,250, while the Sensex traded sharply lower.

The sell-off was led by weakness in IT and PSU stocks, while rising crude oil prices added to concerns over inflation and corporate profitability. Brent crude hovered around $89-$90 a barrel amid continuing geopolitical tensions in the Middle East.

Market volatility also increased, with the India VIX rising around 2%, signalling heightened caution among investors. The decline comes after both benchmarks ended lower on Friday, with the Sensex losing about 71 points and the Nifty declining nearly 30 points.

IT Stocks Under Pressure

IT stocks remained among the biggest drags on the benchmarks as investors continued to remain cautious toward large-cap technology companies. Selling pressure in the sector added to the broader market decline.

The weakness follows a difficult week for several large IT companies, with TCS among the major stocks weighing on market sentiment.

Crude Oil Remains a Key Concern

Elevated crude prices are a major concern for India because the country relies heavily on imports to meet its energy requirements. A sustained rise in oil prices could increase input costs, put pressure on inflation and weigh on the rupee.

Reuters reported that Brent crude was trading around $89 a barrel on Monday as geopolitical tensions continued to influence oil markets.

Market Outlook

Analysts are likely to keep a close watch on the 24,250-24,200 zone on the Nifty. A sustained break below this area could increase selling pressure, while a recovery above key resistance levels may provide some relief to investors.

For now, global geopolitical developments, crude oil prices, foreign institutional investor flows and corporate earnings are expected to remain the key drivers for Dalal Street.