Why did Sensex, Nifty fall today? Oil prices, US-Iran tensions weigh on investors

Market benchmark indices Sensex and Nifty ended lower on Friday as elevated oil prices and the prolonged US-Iran impasse weighed on investors' sentiment.

Sensex, Nifty end lower

The 30-share BSE Sensex was down 70.71 points, or 0.09 per cent, to settle at 78,009.25. During the day, it dropped 395.59 points, or 0.50 per cent, to 77,684.37.

The 50-share NSE Nifty dipped 29.85 points, or 0.12 per cent, to end at 24,366.

Asian Paints, SBI among major laggards

From the Sensex pack, Asian Paints, InterGlobe Aviation, NTPC, Power Grid, State Bank of India and HCL Tech were among the major laggards.

Bharti Airtel, Adani Ports, ICICI Bank and Titan were among the winners.

Oil prices remain a concern

Brent crude, the global oil benchmark, went up by 0.17 per cent to USD 87.15 per barrel.

The rise in oil prices, along with the prolonged US-Iran impasse, continued to weigh on investor sentiment.

Global markets mixed

In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite index ended higher, while Hong Kong's Hang Seng index settled lower.

Markets in Europe were trading mostly higher, while US markets ended in positive territory on Thursday.

FIIs continue to sell

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 510.69 crore on Thursday, according to exchange data.

The selling by foreign investors added to the cautious mood in the domestic market.

Sensex gained, Nifty fell on Thursday

On Thursday, fag-end buying helped the Sensex end the session in the positive territory.

The 30-share index settled 113.61 points, or 0.15 per cent, higher at 78,079.96. The Nifty was marginally down by 40.10 points, or 0.16 per cent, to end at 24,395.85, registering its third day of decline.