Mumbai, May 29 -- The key equity benchmarks ended sharply lower on Friday, extending losses for a third straight session. Sentiment remained weak amid rising geopolitical tensions in the Middle East and concerns over a slightly below-normal monsoon after the India Meteorological Department forecast rainfall at around 90% of the long-period average. The Nifty settled below the 23,550 mark, weighed down by losses in energy, metal and auto stocks.

Investors remained cautious as they assessed the prospects of peace in the Middle East and its potential impact on crude oil prices. Market participants are seeking greater clarity on the geopolitical front before taking fresh directional bets.

Selling pressure intensified in the final half hour ...