The key equity indices ended with modest losses on Monday, driven by escalating US-Iran tensions and firm crude oil prices. Strong US jobs data also revived expectations of a September Federal Reserve rate hike, while rising US bond yields added pressure on emerging-market equities. Persistent foreign institutional invest
or selling further weakened sentiment. The market is also facing liquidity pressure from a strong IPO pipeline, with several large issues expected to absorb funds from the secondary market. The Nifty closed below the 23,800 level, dragged by IT and metal shares. However, pharma and consumer durables shares were in demand.