India’s BSE Sensex fell about 0.8% to 76,339 on Wednesday, its lowest level since July 24, as escalating US-Iran tensions drove oil prices higher and triggered a broad market selloff. Brent crude rose about 1% to $95.40 a barrel after briefly reaching a near six-week high, with renewed US-Iran military strikes intensifying concerns about supply disruptions. Higher crude prices also pushed global bond yields upward as investors worried that persistent inflation could delay monetary easing or lead to higher interest rates. The rupee came under pressure after oil’s rise tested gains supported by intervention from the Reserve Bank of India (India’s central bank) and dollar selling by foreign banks. ICICI Bank said it had mobilised $17.88 billion through August 31 under the RBI’s FCNR scheme, increasing dollar inflows that could help ease pressure on the rupee as oil prices rise. HDFC Bank, Infosys, Reliance, ICICI Bank and TCS were among the main laggards, falling 1.2%, 1.3%, 0.6%, 0.8% and 1.0%, respectively.