Nifty closes below key 23,800 level on Gulf war ripples

Nifty fell 102.15 points or 0.4% to close at 23,767.45, while Sensex declined 331.6 points or 0.4% to end at 76,059.77, posting their sharpest weekly fall of 2.3% since early May and March respectively. The decline was driven by a spike in crude oil prices after Houthi attacks on Saudi oil tankers in the Red Sea and US strikes on Iran, with Brent crude climbing above $100 before easing to $97.5 per barrel. Additional pressure came from rupee depreciation and a rise in the US 10-year Treasury yield to 4.71%, while the India VIX fear gauge rose 4.1% to 14.03.