- Sensex tanked 715.06 points, or 0.92 percent, to settle at 76,755.05 on Wednesday.
- Nifty declined 191.45 points, or 0.79 percent, to end at 23,996.25.
- The decline on Wednesday followed a sharp spike in crude oil prices and selling in bank stocks.
- Brent crude jumped 4.68% to $95.27 per barrel, contributing to the market downturn.
- On Tuesday, Sensex declined 238.41 points, or 0.31%, to settle at 77,470.11.
- Nifty edged lower by 50.80 points, or 0.21%, to end at 24,187.70 on the same day.
- The market's decline is attributed to geopolitical tensions and concerns over potential oil supply disruptions.
- Major laggards in the Sensex pack included InterGlobe Aviation, Infosys, State Bank of India, UltraTech Cement, ICICI Bank, and Axis Bank.
- The BSE MidCap Select index tumbled 1.33 percent and the SmallCap Select index declined 1.16 percent during this period.
Indian equities continued their downward trend for the third consecutive session, with the BSE Sensex plummeting 715.06 points to 76,755.05 and the NSE Nifty falling 191.45 points to 23,996.25.1256
The decline was driven by a sharp spike in crude oil prices, with Brent crude rising 4.68% to $95.27 per barrel, amid ongoing geopolitical tensions in the Middle East.347
According to Vinod Nair, head of research at Geojit Investments Ltd, "Indian equities closed lower as a sharp rise in crude oil prices and persistent geopolitical tensions in the Middle East kept investors firmly in risk-off mode."
Major laggards included InterGlobe Aviation, Infosys, State Bank of India, UltraTech Cement, ICICI Bank, and Axis Bank.8
The BSE MidCap Select index tumbled 1.33% and the SmallCap Select index declined 1.16%.
Ponmudi R., CEO of Enrich Money, noted that the benchmark indices faced sustained selling pressure throughout the session, overshadowing an otherwise encouraging start to the first-quarter earnings season.
On the previous day, the Sensex had already declined 238.41 points, or 0.31%, to 77,470.11, while the Nifty edged lower by 50.80 points, or 0.21%, to 24,187.70.
“The Sensex closed at 76,755.05, down 715 points, while the Nifty settled at 23,996.25, losing 191 points. Broader markets also declined, with the BSE MidCap and SmallCap indices falling over 1 percent each amid heightened geopolitical risks and rising crude above $95.”
