Snapping 5-day gaining streak, Indian equity benchmark -- Nifty ended lower on Thursday as renewed geopolitical jitters in West Asia. Index made negative start after Iran said the U.S of violating elements of a two-week ceasefire agreement, raising concerns that tensions could escalate again and disrupt energy supplies. Soon, index extended its losses as traders opted to book profit after recent rally. Besides, cautiousness prevailed with persistent foreign fund outflow. As per exchange data, foreign institutional investors offloaded equities worth Rs 2,811.97 crore on Wednesday. Further, Brent crude oil prices surged to trade near $98 a barrel, which weighted on market sentiments. Traders overlooked report that the World Bank marginally raised India's growth projections for the 2026-27 fiscal year to 6.6%. It noted that although GST rate cuts would boost consumer demand in the initial months of the fiscal year, headwinds from the Middle East crisis could affect growth. In second half of the session, index remained under pressure and continued its pessimistic trade till end of the session. Finally, Nifty ended below 23,800 mark.
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