Sensex, Nifty Under Pressure as Rising Crude Weighs on Market Sentiment

Indian equity benchmarks are expected to open around flat levels today after a weak session on Tuesday. The Sensex fell 388 points to 78,154, while the Nifty 50 declined 112 points to 24,471.70, as higher crude prices and uncertainty surrounding the US-Iran conflict weighed on investor sentiment.

Market participants are likely to remain selective as the June-quarter earnings season continues. Foreign fund flows, global markets and developments in West Asia could determine the direction of the benchmarks, with the 24,400–24,500 zone important for the Nifty in the near term.