Sensex, Nifty end lower as US-Iran tensions weigh on market sentiment

MUMBAI: Indian benchmark indices ended lower on Friday as renewed tensions between the United States and Iran dampened investor sentiment and triggered caution across sectors.

The selloff was largely led by banking stocks, while gains in IT shares helped limit the downside.

The Nifty ended 150.50 points or 0.62 per cent down at 24,176.15 and the Sensex ended 516.33 points or 0.66 per cent down at 77,328.19.

Commenting on Nifty technical outlook, experts said that the 24,250–24,300 level continues to act as an immediate resistance zone, and a sustained breakout above this mark could strengthen momentum further toward the broader hurdle near the 24,400–24,500 levels.

“On the downside, the 24,100–24,000 region remains a crucial support area, which will be important to maintain the current market structure,” an analyst stated.

Among the top gainers on the Nifty index were Titan, Apollo Hospitals Enterprise and Asian Paints, which managed to buck the broader market weakness.