Mumbai, May 11 -- Indian equity markets witnessed sharp selling pressure on Monday as renewed tensions in the Gulf region and concerns over rising crude oil prices weighed heavily on investor sentiment.

The Nifty 50 index closed at 23,815.85, down 360.30 points or 1.49 per cent, while the BSE Sensex settled at 76,015.28, declining 1,312.91 points or 1.70 per cent.

Market experts said investor sentiment weakened after fresh geopolitical concerns in West Asia and rising worries over the impact of elevated crude oil prices on India's economy.

Vinod Nair, Head of Research, Geojit Investments said the benchmark indices slipped sharply following renewed Gulf tensions after former US President Donald Trump reportedly rejected Iran's peace pro...