Stock Market Today: Sensex Falls 172 Points, Nifty Slips As Iran Tensions Rise

Indian benchmark indices closed lower on Monday as escalating geopolitical tensions dampened investor confidence.

Concerns intensified after Iran threatened to seize vessels and change transit rules for the Strait of Hormuz.

The developments came ahead of an expected US announcement on sanctions against Tehran.

The Sensex slipped 171.72 points, or 0.22 per cent, to finish at 77,369.11. The Nifty declined 32.95 points, or 0.14 per cent, to settle at 24,219.05.

Market analysts identified 24,300 as a key resistance level for the Nifty. A sustained move above this mark could strengthen the technical outlook and push the index towards 24,400-24,500.

On the downside, analysts placed immediate support at 24,145, which matched the session low.

Selling pressure affected several heavyweight stocks. SBI Life Insurance Company and Bajaj Finance emerged among the biggest Nifty losers.

Investor caution reflected concerns about the Strait of Hormuz, a crucial corridor for global energy shipments. Any disruption could affect energy supplies and international trade.

Broader markets delivered mixed results. The Nifty MidCap index gained 0.13 per cent, while the Nifty SmallCap index slipped 0.26 per cent.

Among sectoral indices, Nifty PSU Bank recorded the sharpest decline, signalling pressure on banking stocks. The Nifty Metal index, however, outperformed other sectors and offered some support.

Experts said weak Asian markets pressured Indian equities, with large-cap stocks underperforming broader markets. They expect heightened volatility on Tuesday as traders assess new US sanctions on Iran and Tehran’s possible response.

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