Mumbai: Indian benchmark equity indices ended lower for the third consecutive session on Thursday as a rise in crude oil prices heightened concerns over the inflation outlook and dampened investor sentiment.

The Sensex declined 460.30 points, or 0.62 per cent, to close at 73,249.39, while the Nifty fell 123.70 points, or 0.54 per cent, to settle at 22,687.65. Selling pressure was visible across key sectors, with information technology, fast-moving consumer goods (FMCG), and media stocks emerging as the biggest drags on the market.

Commenting on the technical outlook, market experts noted that while the index managed to close above its 200-week moving average (200-WMA), the overall price structure and sentiment remain weak. Analysts pointed out that immediate resistance is placed at 22,800 and 23,000, whereas 22,600 serves as a crucial support level.

The weakness extended beyond frontline indices to the broader market, with the Nifty MidCap 100 index slipping 0.87 per cent and the Nifty SmallCap 100 index falling 1.17 per cent. In contrast, the pharmaceutical sector outperformed broader markets, with the Nifty Pharma index ending higher.

Meanwhile, the rupee traded weak, declining around 30 paise to 94.81 against the US dollar amid elevated crude oil prices exceeding $110 per barrel. Market participants remain cautious as geopolitical developments and energy prices continue to dictate near-term economic trends.