FX.co ★ Sensex Finishes Lower

India’s BSE Sensex closed about 0.4% lower at 76,957.3 on Monday, erasing the previous session’s gains, as a rise in crude oil prices amid escalating US-Iran tensions and persistent worries over US interest rates kept investors on edge. Additional pressure came from India’s new closing-price mechanism for stocks with futures and options, as well as an MSCI index rebalancing. Among the major laggards were Adani Ports (-4.1%), ITC (-3.7%), Bharti Airtel (-2.8%), Infosys (-1.5%) and Kotak Mahindra Bank (-1.3%). Heavyweight HDFC Bank slipped about 1.5% after CEO Sashidhar Jagdishan announced he would not seek a third term in October. On the positive side, Sun Pharma (1.9%), ICICI Bank (1.7%), Axis Bank (1.5%) and State Bank of India (1.3%) were the top gainers. For August, the index ended with a monthly loss of roughly 1.5%.