Sensex plummeted by around 1,000 points on Wednesday due to uncertainty surrounding US–Iran negotiations, rising crude oil prices, and foreign fund outflows.
The 30-share BSE Sensex dropped 699.74 points to 73,959.48 in early trade, with Tata Consultancy Services, Tech Mahindra, and Infosys being among the biggest laggards.
The mild escalation in the West Asia conflict has pushed up Brent crude price to close to USD 97, indicating no respite to India from the energy shock.
The stock market slump comes after Iran fired missiles toward Kuwait and Bahrain, sparking fears of a resumption of its war with US-Israel.
The US Trade Representative has proposed slapping 12.5 per cent additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.
