Indian Equity Market Ends Lower Amid Rising Oil Prices and US-Iran Tensions

The Indian equity market ended lower on Monday as rising crude oil prices and concerns over potential U.S. rate hikes weighed on investor sentiment.

The Nifty 50 settled at 24,080.40, down 95.25 points, or 0.39 per cent. The Sensex declined 307.23 points to 76,957.28. In contrast, the Bank Nifty gained 0.93 per cent.

The sharp decline in the equity market was partly due to geopolitical tensions between the U.S. and Iran. On Monday, the U.S. reportedly struck two Iranian launchers, pushing Brent crude prices higher by 3.33 per cent to USD 91.25 per barrel.