Indian equity benchmarks declined sharply on Thursday, the BSE Sensex dropped nesarly 975 points to 75,890.72, while the Nifty50 fell 299.45 points to 23,567.15 in early trade, reflecting broad-based selling across sectors.
Among the top gainers on the Nifty were HCLTech, Infosys, and Tata Consultancy Services, as IT stocks showed resilience amid the broader market sell-off.
On the other hand, top losers included InterGlobe Aviation, Tata Motors, Larsen & Toubro, and Adani Enterprises, which came under selling pressure during the session.
Sector-wise, auto, capital goods and consumer stocks led the decline, while IT shares limited the fall in the benchmarks.
The market downturn was largely driven by a surge in global oil prices, with Brent crude oil rising to around $101 per barrel amid geopolitical tensions in the Middle East. Higher crude prices raised concerns over inflation and increased costs for businesses.
The spike in oil prices, along with cautious global sentiment, prompted investors to reduce exposure to equities, leading to losses across most sectors in the domestic market.
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