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NSE's Nifty fell 118.55 points or 0.5% to close at 23,779.15. BSE's Sensex declined 382.62 points or 0.5% to end at 76,132.81. "The underperformance of Indian equities has coincided with the upswing in oil prices due to renewed tensions," said Sham Chandak, head of institutional equities, Elios Financial Services. Brent crude oil November futures were trading near $97.5 a barrel mark on Monday evening, up from $90.5 levels on previous Monday. "Also aiding this underperformance is the accelerated supply of paper in the form of IPOs, promoter and PE fund exits and fund raises through QIPs and preferential allotments," said Chandak. Read more: Sebi eases FPI compliance rules for G-Sec bets Further, he said, the market senses a discomfort due to rising US bond yields, as at 4.8%, the US benchmark yields are dangerously close to 2023 highs. Elsewhere in Asia, Japan rose 2.1%, China advanced 0.1%, South Korea gained 4.6% and Taiwan was up 1.7%, while Hong Kong fell 0.9%. The pan-Europe index Stoxx 600 was flat at the time of going to print. "Market activity remains stronger in the mid and small-cap segments, while large caps continue to lag, keeping benchmark indices subdued," said Dharmesh Shah, head of technical research, ICICI Securities. Shah said for the Nifty, 23,600 remains a key support level, coinciding with its recent low. "After four consecutive weeks of decline, the index is moving into oversold territory. As long as Nifty holds above 23,600, the scope for a near-term pullback remains," he said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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