Sensex, Nifty end lower amid rising crude oil prices

MUMBAI: Indian equity benchmarks Nifty and Sensex ended lower on the day, weighed down by rising crude oil prices amid escalating tensions between the United States and Iran.

The Nifty declined by 180.10 points, or 0.74 per cent, to close at 23,997.55, while the Sensex fell 582.86 points, or 0.75 per cent, to settle at 76,913.50.

Commenting on Nifty technical outlook, experts said that 24,100–24,150 remains an immediate resistance band, followed by the 24,300–24,400 zone, which continues to act as a crucial hurdle.

“On the downside, the 23,800 level continues to act as a key support, where buying interest has emerged, preventing further decline,” an analyst stated.

The weakness in the market came as global sentiment turned cautious following a sharp spike in oil prices.

Brent crude prices surged after reports indicated that the US had rejected Iran’s peace proposal and moved to intensify the blockade at the Strait of Hormuz, a key global oil transit route.

The development raised concerns over supply disruptions and inflationary pressures, impacting investor sentiment across equities.