Mumbai, June 11 (IANS) Indian equity benchmark indices ended a volatile trading session lower on Thursday as investor sentiment weakened amid escalating geopolitical tensions in West Asia following fresh military action by the United States against Iran. The Nifty closed 53.35 points, or 0.23 per cent, lower at 23,161.60, while the Sensex declined 150.63 points, or 0.20 per cent, to settle at 73,832.55.Commenting on Nifty technical outlook, experts said that the 23,300-23,400 zone now acts as an important immediate resistance area.“A sustained move above this range would be required to improve sentiment and support a recovery toward the 23,550 region,” an analyst stated.“On the downside, the index is currently hovering near the crucial 23,100 support zone. Holding above this level will be important to prevent further weakness,” a market expert mentioned.Market participants remained cautious after reports emerged that the United States had intensified its military offensive against Iran.

US President Donald Trump said Tehran had ample time to negotiate a deal with Washington but failed to do so.He warned that Iran would now have to face the consequences, adding that the US would strike the country “very hard”.Further adding to concerns, Iran announced the closure of the strategically important Strait of Hormuz following the US military strikes.The development raised fears of potential disruptions to global oil supplies and heightened uncertainty across financial markets.Among the Nifty constituents, Infosys and Eternal emerged as the top laggards, weighing on the benchmark index. The weakness in technology stocks also dragged the broader IT sector lower.Broader markets witnessed sharper selling pressure, with the Nifty MidCap index ending 0.81 per cent lower and the Nifty SmallCap index declining 0.67 per cent.On the sectoral front, the Nifty IT, Nifty Consumer Durable and Nifty Chemical indices recorded the steepest losses.

In contrast, the Nifty Media, Nifty Private Bank and Nifty Pharma indices outperformed the broader market and managed to limit the overall decline.Analysts said investors are closely monitoring developments in West Asia, as any further escalation could impact global crude oil prices and risk sentiment across equity markets.After two days of gains, the Indian Rupee depreciated due to fresh dollar demand driven by forward maturities and a recovery in the dollar index amid safe-haven flows.“Technically, a decisive breach above 95.80 could trigger sharp short-covering and aggressive hedging, paving the way toward 96.50. On the downside, 94.70 continues to act as a strong base,” a market expert mentioned.

/IANS