FX.co ★ Sensex, Nifty End Lower As Oil Extends Gains On Supply Concerns

Tuesday's trading session ended with a dip in Indian shares as a result of escalating oil prices, while investors keenly awaited upcoming inflation readings from the U.S. and Europe for market direction.

The climb in oil prices is a continuation of Monday's trend, largely influenced by increased supply concerns. President Vladimir Putin of Russia confirmed that radical Islamists were behind the previous week's attack on a concert hall on Moscow's outskirts, implicating Ukraine in the incident.

In other global affairs, the ongoing conflict in Gaza, now in its sixth month, persists as both Israel and Hamas continue to dismiss recent attempts by international intermediaries to halt the hostilities.

In a separate development, the Houthi rebels originating from Yemen have issued a warning to Saudi Arabia, stating it would become a target if it chooses to aid and abet the Anglo-American aggression against their group. This warning coincides with increasing attacks on vessels in the Red Sea by the group, securing support for the Palestinians and backed by Iran.

India's S&P BSE 30-share Sensex rounded off the trading session with a slump of 361.54 points, or 0.50%, settling at 72,470.30. This fall largely stemmed from rising concerns that escalating oil prices may instigate inflationary pressures and result in soaring deficits.

Last week's monthly economic review from India's finance ministry highlighted the imminent risk to economic growth and inflation from skyrocketing oil prices, attributed to the disturbances in the Red Sea.

Furthermore, the broader NSE Nifty index concluded 92.05 points down, or a decrease of 0.42%, standing at 22,004.70, in anticipation of the upcoming F&O expiry.

Among the significant losers, Divis Laboratories, Wipro, Eicher Motors, Power Grid Corp, and Bharti Airtel saw a fall of 1-2%. On the other hand, Bajaj Finance emerged as the top gainer, marking an increase of 2.4% to Rs. 6,925, trailed by Hindalco, Adani Ports, Britannia Industries, and NTPC.