Indian stock markets ended lower on Tuesday as elevated crude oil prices and selling by foreign investors weighed on sentiment. The Sensex fell 242.65 points to close at 72,529.07, while the Nifty dropped 64.05 points to 22,716.20.

High oil prices raise costs for companies and can push inflation higher. India imports most of its crude oil, so expensive energy is a persistent drag on the market and the wider economy.

Foreign investors have been pulling money out of Indian equities in recent weeks. Analysts say global investors are cautious about emerging markets while interest rates stay high in developed economies.

Banking and energy shares were among the day’s decliners. Broader market indices also finished in the red, though the falls were orderly rather than sharp.

Traders will now watch the Reserve Bank of India’s policy decision on October 7. Any signal on interest rates could set the direction for markets in the coming weeks.