Sensex tumbling 417 points to close at 76,153 on global oil fears

India's equity markets extended losses for a second consecutive day as geopolitical tensions in the Middle East and high fuel costs dampened investor sentiment. The BSE Sensex declined 417 points or nearly 0.6% to close at 76,153 following a sharp drop during the closing auction session on its weekly expiry day. The Nifty 50 fell 41 points or 0.17% to end the session at 23,873, wiping out all morning gains. Although broader markets including small-caps and mid-caps outperformed benchmarks, realty stocks led sectoral rises while IT shares lagged behind. Vinod Nair, Head of Research at Geojit Investments, noted that supportive global cues collided with lingering geopolitical risks, citing stubbornly high crude oil prices as a key overhang for the domestic market. Strong inflows into non-resident Indian deposits helped cushion pressure on the rupee and moderated concerns about tightening domestic liquidity and interest rates.