Weak global cues and fresh US-Iran tensions kept the market under pressure throughout the day. Higher crude oil prices and uncertainty around the Strait of Hormuz added to the weakness. Bank Nifty led the fall, while Realty, PSU Banks, Auto, Financial Services, IT and Tourism also closed lower. Pharma was the only sector that managed to end in green. Midcaps slipped and Smallcaps lost over 1%, with more than 2,200 stocks closing in the red. Pressure was also visible in the bond market as yields moved higher. The rupee weakened by another 57 paise to around 96.2, while Brent crude jumped nearly 5% to $87.2. June WPI inflation came in at 9.87%, higher than both estimates (9.15%) and the previous reading (9.68%). After yesterday's higher CPI data, this added to inflation concerns. For tomorrow, the focus will remain on Middle East developments, crude oil movement and whether Bank Nifty can find support after today's sharp decline.

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