Mumbai, April 9 -- The equity markets witnessed renewed selling pressure on Thursday, with both benchmark indices closing in the red amid rising uncertainty in the ongoing Middle East conflict.

The Nifty 50 index closed at 23,775.10, declining by 222.25 points or 0.93 per cent, while the BSE Sensex ended at 76,631.65, falling by 931.25 points or 1.20 per cent.

Market experts attributed the decline to fading optimism around the ceasefire and renewed geopolitical tensions impacting investor sentiment.

Vinod Nair, Head of Research at Geojit Investments, said that the initial optimism following the ceasefire announcement weakened due to renewed US-Iran tensions and continued disruptions around the Strait of Hormuz.

"Ceasefire-led optimism...