Indian stock markets saw a sharp fall on Wednesday as rising crude oil prices and growing tensions in the Middle East affected investor confidence, according to media reports.
The S&P BSE Sensex dropped 1,677.12 points, or 2.15%, to close at 76,503.60. The NSE Nifty50 also fell 516.65 points, or 2.12%, ending the day at 23,882.05. It was the biggest single-day fall for both indices in nearly three months.
The market decline came after fresh tensions between the United States and Iran increased concerns about global oil supplies. Higher crude prices raised fears of rising inflation and pressure on economies.
Brent crude prices increased nearly 6% to $78.58 per barrel, while WTI crude also gained more than 6%.
Selling was seen across major sectors, including banking, finance, automobile, chemicals and consumer goods. Mid-cap and small-cap stocks also faced pressure during the trading session.
The India VIX, which shows market uncertainty, jumped more than 26%, showing increased fear among investors.
The Indian rupee also weakened against the US dollar, falling around 0.6% to 95.55.
Market experts said investors will closely watch global developments, crude oil prices, company earnings and central bank decisions for further market direction.
Disclaimer: This content is based on media reports and market data available at the time of reporting and is for informational purposes only. Investors are advised to consult a qualified financial expert before making any investment decisions. VisionMP is not responsible for any loss arising from the use of this information.
