Oil prices rallied sharply after US and Israeli strikes on Iran heightened Middle East tensions. Brent and WTI hit multi-month highs, with further gains likely amid supply risks through the Strait of Hormuz, potentially pressuring equities and oil-sensitive sectors.
Nifty tests support zone amid corrective market phase; cautious week seen ahead
Nifty closed lower after sustained selling, staying above long-term averages but showing short-term weakness below key resistance. Technical indicators suggest consolidation with corrective bias. Energy,