Indian Markets Extend Losses Amid Inflation Concerns

Indian stock markets continued their downward trend for the third consecutive session, weighed down by rising crude oil prices and higher bond yields. The Sensex fell 373.93 points to close at 76,570.35, while the Nifty declined 141.35 points to settle at 23,914.45.

The market analysts said that as long as the Nifty stays below the 24,000 level, bearish sentiment is likely to persist. The near-term outlook for the Nifty remains weak, with a correction possible towards 23,700-23,730 on the lower end.

Investor sentiment remained cautious due to concerns that higher crude oil prices could add to inflationary pressures and increase costs for businesses. Rising bond yields also made fixed-income investments relatively more attractive, weighing on equities.