Stock markets ended the trading day lower today, with both the benchmark indices declining over 0.5 percent at close. The Nifty fell 132.75 points and closed at 24,154.90 while the Sensex declined 492.70 points and ended at 77,235.46. Besides auto, all sectoral indices ended the trading day under pressure and on a weak note. The Indian rupee closed at 95.68 to the dollar versus Monday’s close of 95.60 to the dollar. Crude oil prices continued to trade near 3-week highs (at the time of filing this copy) on back of the US-Iran conflict and the persisting concerns. Brent Crude prices surged over 91 dollars per barrel while WTI Crude prices spiked over 85 dollars per barrel after US President Donald Trump reportedly stated he will not extend the expiring US-Iran memorandum and threatened military action against Oman over alleged interference in the Strait of Hormuz. Tanker traffic via the Strait has also reportedly fallen to a fraction of the pre-war levels. G. Chokkalingam Head of Research at Equinomics Research told Times Now Digital, "renewed disturbances in the Strait of Hormuz, firmness in global crude oil prices and yesterday’s selling of equities by FIIs in Indian markets led to weakness in domestic markets today. Weakness may continue for few more trading days unless oil prices show some downward trend or FIIs turn significant net buyers of Indian stocks." Market analyst Vipin Dixena had earlier today told ANI, "the Indian market is likely to remain under pressure as elevated crude oil prices and renewed geopolitical concerns continue to weigh on sentiment. Nifty is now approaching the crucial 24,200 support zone. I believe holding this zone is important to prevent further weakness. On the upside, 24,360-24,400 remains the immediate hurdle, and a sustained move above this zone could bring some recovery momentum back into the Index." Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world. Sakshi Bajaj is a seasoned Associate Editor with over 15 years of experience in broadcast journalism. She has anchored, scripted, produced shows and w... View More