Sensex drops 374 points, Nifty slips 141 points

Sensex, Nifty fall as crude prices, global cues weigh on markets Indian benchmark indices Sensex and Nifty ended lower on Wednesday, tracking weak global markets and rising crude oil prices amid escalating US-Iran tensions. The Sensex fell 373.93 points, or 0.49%, to 76,570.35, while the Nifty declined 141.35 points, or 0.59%, to 23,914.45. Key factors behind the decline 1) Rising crude prices: Brent crude gained nearly 1% to $95.4 a barrel, after touching a six-week high. Renewed US-Iran tensions have raised concerns over possible disruptions to regional energy supplies. Higher oil prices could fuel inflation and widen India's import bill. Crude has emerged as a key near-term risk for domestic equities, with WTI crude gaining more than 8% over the past two sessions. 2) Higher bond yields: Elevated global bond yields, amid expectations of higher US interest rates, also weighed on emerging-market equities. Rising US rates can reduce foreign investor interest in markets such as India. 3) Weak global cues: Asian markets declined sharply, with South Korea's Kospi falling over 3% and Japan's Nikkei 225 dropping nearly 3%, adding to pressure on Indian equities. Investment in securities market are subject to market risks. Read all the related documents carefully before investing,