Markets extended losses through midday trade on Tuesday, August 11, 2026, with the Nifty 50 falling 133.30 points or 0.54 per cent to 24,450.50 and the Sensex declining 413.52 points or 0.53 per cent to 78,128.92 as of 12.45 pm, as a sharp spike in Brent crude oil prices to near $87.9 per barrel rattled investor sentiment.According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, "the frontline indices declined below the lows of two prior trading sessions on the back of a sharp spike in Brent crude prices." He identified the zone of 24,360–24,340 as crucial support for the Nifty, with resistance at 24,530–24,550. A slip below 24,340 could drag the index toward 24,220–24,200, while a surge above 24,550 could extend the rally toward 24,700. On Sensex, Shah placed support at 77,700 and resistance at 78,600.Market breadth on BSE was decisively negative. Of 4,334 stocks traded, 1,933 advanced and 2,168 declined, with 233 unchanged. The Nifty's Advance-Decline Ratio stood at a lopsided 13:37. A total of 163 stocks hit 52-week highs against 70 touching 52-week lows, while 182 stocks were locked in upper circuits and 162 in lower circuits.On the options front, Shah noted "meaningful call writing across 24,500 and 24,600 strikes," signalling dealer resistance at those levels. On the put side, 24,400 carried substantial open interest, followed by 24,300, indicating where traders expect some floor support.Among Nifty 50 sectors, IT was the best performer while Private Banks were the worst. Dr. Reddy's Laboratories led the gainers, rising 2.61 per cent to ₹1,189.10, followed by Titan at ₹5,146.30, up 1.11 per cent, Eicher Motors at ₹8,057.50, up 1.03 per cent, Infosys at ₹1,191.00, up 0.68 per cent, and TCS at ₹2,439.20, up 0.56 per cent.On the losing side, Max Healthcare was the top decliner, falling 3.07 per cent to ₹1,036.20. Tata Consumer Products dropped 2.14 per cent to ₹1,085.00, Apollo Hospitals fell 2.12 per cent to ₹8,723.00, UltraTech Cement declined 2.00 per cent to ₹11,797.00, and SBI Life Insurance shed 1.89 per cent to ₹1,820.00.The primary driver of the selloff remains crude oil. WTI crude holds near $82 per barrel after rallying more than 6 per cent in recent sessions. Brent has tested $87.9. "With crude oil remaining firm amid the unresolved Strait of Hormuz standoff and the rupee continuing to weaken, today's broad-based selling suggests investors are factoring in the combined impact of rising energy costs, currency pressures, and persistent geopolitical uncertainty," said Ponmudi R, CEO of Enrich Money.The Indian rupee has weakened to around ₹95.4 against the U.S. dollar. The USD/INR pair faces immediate resistance at ₹95.4–₹95.5, with a sustained move above ₹95.45 pointing to further depreciation toward ₹95.6–₹95.7. Support lies at ₹95.3–₹95.2.Precious metals are trading sharply higher. COMEX Gold surged past $4,450, with RSI strengthening toward 70. MCX Gold extended gains for a sixth consecutive session to trade near ₹1,55,000, holding above all major moving averages. COMEX Silver trades near $66, reclaiming its 200-day EMA, while MCX Silver extended upside to ₹2,38,900. MCX Crude Oil edged higher to ₹7,800, its fifth consecutive session of gains after recovering from long-term support near ₹7,100.Any breakthrough or further escalation in U.S.-Iran negotiations over the Strait of Hormuz remains the key catalyst likely to determine market direction for the remainder of the session. Q1FY27 earnings from Manappuram Finance, PI Industries, MRF, Zydus Life, Siemens India, and Bata India are also due today and will continue to steer stock-specific action.More Like ThisPublished on August 11, 2026