Indian benchmark shares fell on Wednesday as the Middle East war kept investors uncertain about the impact on inflation and growth, with oil prices seesawing.
The 30-share S&P BSE Sensex shed 1.33%, or 1,045.15 points, while the NSE Nifty 50 traded 1.19% lower.
Eight out of 16 major sectors declined, with HDFC Bank, ICICI Bank, and Reliance Industries losing 1.4%, 1.4%, and 0.48%, respectively.
Smallcaps rose 0.5% while midcaps were flat.
Geopolitical uncertainty kept markets on edge, said Devarsh Vakil, head of prime research at HDFC Securities.
Oil prices had a short-lived pullback after the International Energy Agency proposed a record release of oil reserves to curb crude prices.
Stocks in news today: IndiGo gained 3% after its CEO Pieter Elbers resigned, and Waaree Energies Ltd. climbed 2.4% on a deal to acquire shares worth $30 million in United Solar Holdings.
