Sensex Plummets as Brent Crude Hits $100 Amid US-Iran Tensions

Indian equity markets continued their decline for the third consecutive day on Wednesday due to escalating US-Iran tensions that pushed Brent crude prices above $100 per barrel. The benchmark Sensex plummeted 813.35 points, or 1.08 percent, to settle at 74,764.23, while the Nifty declined 203.60 points, or 0.86 percent, to close at 23,431.50.

The sell-off was led by information technology stocks, with Infosys, HCL Technologies, and Tech Mahindra emerging as the biggest losers among Nifty constituents. The sharp decline in IT stocks weighed heavily on the benchmark indices amid broader risk aversion.

Experts said sentiment remained cautious as the sharp rise in crude oil prices raised concerns about higher input costs, inflationary pressures, and the potential impact on India's import bill. 'Today's market sell-off reflects a combination of rising geopolitical risks, crude oil nearing the $100/barrel mark, rupee weakness, and renewed FII selling,' analysts said.