📉 Sensex Drops 383 Points, Nifty Ends Below 23,800 Amid US

Indian markets closed lower on Monday as rising crude prices, escalating US-Iran tensions, and concerns over higher US interest rates weighed on investor sentiment. The Sensex fell 382.62 points (0.50%) to 76,132.81, while the Nifty declined 118.55 points (0.50%) to 23,779.15. Small- and mid-cap indices also slipped around 0.2% each. 🔑 Key Triggers 1️⃣ Crude Oil Surge 🛢️ Brent crude rose 0.78% to nearly $97/barrel, while WTI hovered around $91–92, raising concerns over supply disruptions near the Strait of Hormuz. 2️⃣ IT Selling 💻 Heavy selling in IT stocks dragged the benchmarks lower amid worries over the US rate outlook. 3️⃣ Geopolitical Risks 🌍 Rising US-Iran tensions increased uncertainty over oil supplies, inflation, and global growth. 4️⃣ Global Cues 📊 Asian markets were mixed, with Kospi up 3.36% and Nikkei 225 gaining 1.83%. 📌 Market View: Elevated oil prices, geopolitical risks, IT-sector selling, and US rate concerns kept investors cautious, with global developments and crude prices likely to remain key market drivers.