Sensex, Nifty end lower amid surge in crude oil prices

MUMBAI: Indian benchmark equity indices ended lower on Friday as late-session selling pressure dragged the markets down amid weakness in the rupee against the US dollar and a sharp rise in crude oil prices.

The benchmark Nifty closed 46.10 points, or 0.19 per cent, lower at 23,643.50, while the Sensex declined 160.73 points, or 0.21 per cent, to settle at 75,237.99.

Commenting on Nifty technical outlook, experts said that a sustained breakout above this zone will be required to strengthen bullish momentum and improve broader market sentiment further toward the 23,900–24,000 range.

"On the downside, the 23,500-23,400 zone continues to act as an important immediate support level, and a decisive break below this region could drag the index toward the 23,300–23,200 support area," an analyst stated.

Market sentiment turned cautious during the final hours of trade after the domestic currency touched a fresh low against the US dollar, adding to concerns over rising import costs and inflationary pressures.

The surge in global crude oil prices further weighed on investor sentiment, especially in energy-sensitive sectors.

Among the top laggards on the Nifty index were Hindalco Industries, Eternal and UltraTech Cement.