Indian equity benchmarks recorded their steepest single-day decline in two weeks on Wednesday, extending a sharp selloff that began the previous session.
The BSE Sensex fell 715 points, while the Nifty 50 slipped below the critical 24,000 level, marking a continuation of the pressure that saw the broader index touch 24,050 on Tuesday.
The market downturn is being driven by escalating tensions in the Middle East, which have pushed Brent crude prices above $95 a barrel.
The market downturn is being driven by escalating tensions in the Middle East, which have pushed Brent crude prices above $95 a barrel.
Rising energy costs are weighing heavily on investor sentiment, particularly in sectors sensitive to input prices and global risk appetite.
The selling pressure was broad but concentrated in specific areas, with media and real estate stocks acting as the primary drags on the indices.
In contrast, consumer staples and automotive stocks demonstrated relative resilience, providing a buffer against the wider market decline.