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The Sensex Nifty stock market started the week on a weak note as renewed geopolitical tensions in the Middle East triggered a broad-based selloff across Indian equities. Investors shifted toward safer assets after fresh military exchanges between the United States and Iran renewed fears of supply disruptions through the Strait of Hormuz, sending oil prices sharply higher. The BSE Sensex fell more than 600 points in early trading to around 76,900, while the Nifty 50 slipped below the 24,100 mark as weakness spread across most sectors. Why Is the Sensex Nifty Stock Market Down Today? The biggest trigger behind today's decline is the renewed escalation between the US and Iran. Fresh military strikes over the weekend revived concerns that oil exports through the Strait of Hormuz, a route that carries roughly one-fifth of global crude shipments, could face further disruptions. Brent crude climbed about 4% to around $79 per barrel, reigniting concerns over inflation and higher energy costs. For India, which imports the majority of its crude oil requirements, higher oil prices typically translate into a larger import bill, pressure on the rupee and rising inflation. These factors often weigh heavily on equity markets, particularly sectors that are sensitive to fuel costs and consumer spending. Crude Oil and Treasury Yields Add Pressure Higher oil prices also lifted US Treasury yields as investors reassessed the outlook for inflation and interest rates. Markets now expect central banks, including the US Federal Reserve, to remain cautious about easing monetary policy if energy prices continue climbing. A prolonged period of elevated interest rates could reduce global liquidity and make risk assets such as equities less attractive. Despite the latest volatility, market participants note that oil prices remain well below the levels that typically trigger panic selling. Analysts believe the Indian market could remain relatively resilient as long as Brent crude stays below the $90 per barrel level. IT Stocks Buck the Broader Market Weakness While most sectors traded in negative territory, information technology stocks provided some support. Shares of TCS, HCL Technologies, and Tech Mahindra posted gains as investors rotated into defensive technology names following encouraging commentary from recent quarterly earnings. The IT sector has also benefited from expectations that global technology spending could gradually improve during the second half of the year. On the other hand, aviation stocks faced renewed pressure as rising jet fuel costs weighed on sentiment. Metals, financials, automobiles and consumer stocks also recorded broad losses during the morning session. Foreign Investor Flows Continue to Support Indian Equities Despite today's decline, foreign institutional investors (FIIs) have continued returning to Indian equities in recent sessions. Market participants believe some global investors are reducing exposure to highly concentrated semiconductor positions in other Asian markets while increasing allocations to India, attracted by the country's relatively stable economic outlook and long-term growth prospects. Those inflows have helped cushion the broader market during periods of heightened global uncertainty. Sensex Nifty Outlook: Key Levels to Watch Investors are also closely monitoring the ongoing first-quarter earnings season, with banking and IT companies expected to remain in focus throughout the week. From a technical perspective, the 24,000 level remains an important support zone for the Nifty 50. Holding above that level could help stabilize sentiment if geopolitical tensions ease. On the upside, resistance is seen around 24,200 to 24,350, while a sustained move above those levels could revive bullish momentum. However, if crude oil continues rising or tensions in the Middle East escalate further, market volatility is likely to remain elevated. Why is the Sensex Nifty stock market down today? The market is under pressure due to renewed US-Iran tensions, which have pushed crude oil prices higher and revived concerns about inflation and global interest rates. How do higher oil prices affect the Indian stock market? India imports most of its crude oil. Rising oil prices increase inflationary pressure, widen the country's import bill and can negatively impact corporate earnings across several sectors. Why are IT stocks rising despite the market selloff? Technology shares benefited from stronger-than-expected earnings commentary and expectations of a gradual recovery in global technology spending.