Indian equity markets traded weak on Tuesday as geopolitical tensions around the Strait of Hormuz and rising oil prices rattled investor sentiment. The Sensex fell 290 points to 76,978, while Nifty 50 dropped 96 points to 24,022. The Indian rupee hit a record low of 95.39 per dollar amid US-Iran tensions, compounding concerns over inflation and capital outflows. Analysts warn that persistently elevated crude oil prices could stoke inflationary pressures and erode corporate margins for import-dependent economies like India. Top gainers included M&M, UltraTech, and Nestle, while Coal India, ICICI Bank, and ONGC led declines. Markets are expected to remain range-bound in the near term as traders adopt a cautious stance pending clearer directional signals.
