16:45
Equity benchmark indices Sensex and Nifty tumbled over 2 per cent on Wednesday after US President Donald Trump said the interim agreement with Iran is over, leading to a sharp rally in crude oil prices.
Besides, investors shifted to a risk-off mode following pre-earnings anxiety over sluggish first-quarter forecasts amid a negative trend in global markets, traders said.
The 30-share BSE Sensex tanked 1,677.12 points, or 2.15 per cent, to settle at 76,503.60. During the day, it plummeted 1,921.69 points, or 2.45 per cent, to 76,259.03.
A total of 3,211 stocks declined, while 1,070 advanced and 173 remained unchanged on the BSE.
On similar lines, the 50-share NSE Nifty tumbled 516.65 points, or 2.12 per cent, to end at 23,882.05.
"Indian equity markets witnessed a sharp sell-off as US President Donald Trump declared the interim peace deal with Iran is 'over' following Iranian attacks on commercial vessels in the Strait of Hormuz, reigniting geopolitical tensions and raising fresh concerns over global energy supplies," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm.
The renewed escalation triggered a sharp rebound in crude oil prices, which surged nearly 7 per cent, sending shockwaves across global financial markets, he added.
All firms in the Sensex pack ended in the red. InterGlobe Aviation, Maruti, Hindustan Unilever, Bajaj Finance, Kotak Mahindra Bank and Mahindra & Mahindra were major laggards.
The BSE MidCap Select index tanked 2.14 per cent, and the SmallCap Select index dropped 1.61 per cent. -- PTI
