Sensex crashes 1,700 pts, Nifty below 23,900: Trump’s latest comments on Iran among key factors behind market decline
Sensex, Nifty declined sharply on Wednesday.
US-Iran tensions, crude oil spike weighed on markets.
Rupee depreciated; pharma, oil producers gained.
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The benchmark equity indices Sensex and Nifty fell sharply on Wednesday after US President Donald Trump said his tentative ceasefire with Iran is over after the US launched a fresh wave of strikes.
At around 2:15 p.m., the Sensex fell 1,575.33 points or 2.01 percent at 76,605.39, while the broader Nifty dropped to 23,916.80, down 481.90 points or 1.98 percent.
Among the sectoral indices, all major Nifty gauges traded in the red except metal, pharma and realty. The broader Nifty Smallcap 100 and Nifty Midcap 100 indices declined 0.24 percent and 0.12 percent, respectively.
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The oil and gas index fell 1.5 percent, while the auto and FMCG indices, which are sensitive to crude oil prices, declined 1 percent and 1.5 percent, respectively.
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