Sensex, Nifty End Lower As Oil Extends Gains On Supply Concerns

(RTTNews) - Indian shares ended Tuesday's session lower as oil prices continued to climb and investors awaited key inflation readings from Europe and the U.S. this week for directional cues.

Oil extended Monday's gains on heightened supply concerns as Russian President Vladimir Putin acknowledged for the first time that "radical Islamists" were responsible for last week's attack on a concert hall outside Moscow and that Ukraine was also somehow involved.

Elsewhere, as the conflict in Gaza enters its sixth month, both Israel and Hamas have rejected the most recent attempts by international mediators to stop the carnage.

In another development, the Yemen-based Houthi militants have warned Saudi Arabia that it would be a target if it provides aid and support to the US-British aggression against the group.

The warning comes amid increased attacks against vessels in the Red Sea claimed by the Iran-backed group in support of Palestinians.

The benchmark S&P BSE 30-share Sensex ended the session down 361.54 points, or half a percent, at 72,470.30 on concerns that rising oil prices may stoke inflationary pressures and result in increased deficits.

India's finance ministry said in its monthly economic review last week that inflation and economic growth are at risk from the rise in oil prices caused by disruptions in the Red Sea.

The broader NSE Nifty index settled 92.05 points, or 0.42 percent, lower at 22,004.70 ahead of upcoming F&O expiry.

Among the prominent decliners, Divis Laboratories, Wipro, Eicher Motors, Power Grid Corp and Bharti Airtel fell 1-2 percent.

Bajaj Finance topped the gainers list, rising 2.4 percent to Rs. 6,925, followed by Hindalco, Adani Ports, Britannia Industries and NTPC.