Sensex Falls 600 Points, Nifty Below 23,500 Amid Persistent US-Iran Tensions, High Yields, Crude Oil

Benchmark indices opened lower on May 20, following weakness in Asian markets amid ongoing concerns about high crude oil prices and rising global bond yields. Investors also remained cautious over the lack of progress in US-Iran peace negotiations and continued disruptions around the Strait of Hormuz, a critical shipping route which carries nearly one fifth of the total global oil demand.

The BSE Sensex opened 432.28 points lower, or 0.57 per cent, at 74,768.57, while the NSE Nifty 50 started 160.75 points lower, or 0.68% per cent, at 23,457.25.