Indian benchmark indices ended their worst week since mid-May on Friday, as rising crude oil prices and lingering geopolitical tensions in the Middle East weighed heavily on investor sentiment.
The Nifty 50 fell 0.4% to close at 23,767.45, while the Sensex dropped 0.4% to 76,059.75.
6%, marking the steepest weekly declines for both indices since the week ending May 15.
For the week, the Nifty lost 2.3% and the Sensex declined 2.6%, marking the steepest weekly declines for both indices since the week ending May 15.
The sell-off reflects the broader cross-asset reaction to energy market volatility.
Fresh US military strikes against Iran have reignited fears of a broader regional conflict, causing crude oil prices to surge sharply.
This escalation has effectively collapsed the previous ceasefire agreement, triggering a rapid repricing of supply disruption risks in the Middle East.
For Indian markets, the spike in oil prices is particularly damaging due to the country's heavy reliance on energy imports.
Higher crude costs fuel inflation fears and pressure the current account deficit, leading to a retreat in global equities.