Sensex, Nifty extend losses as Middle East tensions lift oil, yields

Key equity indices came under broad-based selling pressure on Wednesday as escalating US-Iran tensions drove crude oil prices higher and heightened concerns over inflation, interest rates and economic growth. The Nifty ended below the 23,950 mark, led by auto and IT shares, while oil & gas stocks gained. The broader market also weakened, with midcap and smallcap indices falling over 0.5% each. Brent crude crossed $95 a barrel, while higher global bond yields added to pressure on equities. India's sensitivity to imported crude amplified concerns over inflation and the economic impact of a prolonged disruption in the Middle East.