Indian equity markets experienced a downturn on Friday, with the benchmark Sensex closing at 77,328, down 516 points or 0.7%, and the Nifty 50 at 24,176.15, a decline of 151.50 points or 0.6%. This decline came amid renewed hostilities between Iran and the United States, which have muddled hopes for a near-term resolution to the conflict. The total market capitalisation of BSE-listed firms fell by ₹1.5 trillion (approximately $18 billion USD) to ₹473.5 trillion. Reports indicated that clashes occurred near the Strait of Hormuz, a crucial passage for global oil, pushing Brent crude oil prices to around $99.86 per barrel. The ongoing tensions threaten the fragile ceasefire and have led to multiple brokerages downgrading Indian equities due to the potential impact on oil prices and inflation. Analysts noted that market sentiment remains heavily influenced by developments in the conflict, with immediate support for the Nifty placed in the 24,000-23,950 range. Investors are still seeking opportunities in corporate earnings despite the current volatility.