Indian Equity Markets Fall as Investors Await US Sanctions on Iran

Indian equity markets closed lower on Monday due to cautious investor sentiment ahead of fresh US sanctions on Iran. The Nifty 50 index declined by 32.95 points or 0.14% to close at 24,219.05, while the BSE Sensex fell by 171.70 points or 0.22% to end at 77,370.13.

Vinod Nair, Head of Research at Geojit Investments Limited, attributed the market's cautious tone to investors awaiting fresh sanctions from the US on Iran. He noted that Brent crude oil prices remained elevated above $90 per barrel due to concerns over tighter Iranian oil supplies and ongoing tensions in the Strait of Hormuz.

The RBI's recent hawkish stance and higher domestic bond yields also affected risk appetite, Nair said. Sectorally, most NSE indices closed in the red, with Nifty Metal being the notable exception, rising 1.15%.