Markets End at 3-Month Low Amid Crude Oil Shock
What Happened
Indian markets closed sharply lower on Wednesday, with the Sensex falling 813 points (1.08%) to 74,764 and the Nifty dropping 204 points (0.86%) to 23,431, marking their lowest closing levels since June. IT stocks led the decline, with Infosys, HCL Tech and Tech Mahindra among the top losers.
Key Takeaways
Investor sentiment was hit by Brent crude oil crossing $100 a barrel amid escalating Middle East tensions, raising concerns over inflation, corporate earnings and India's import bill. The rupee also weakened, adding to market worries.