New Delhi, 22 April (H.S.):
India's equity markets snapped a three-session rally with sharp declines, Sensex nearing 78,500 and Nifty dipping below 24,400, hammered by West Asia flare-ups, surging crude, FII outflows, and IT rout.
TNV Financial CEO Tarakeshwar Nath Vaishnav attributed the tumble to dashed West Asia peace hopes: Trump's indefinite ceasefire extension conditioned on talks clashed with Iran's blockade defiance, triggering IRGC gunboat fire on Omani container ship. Brent crude breached $100/barrel, fueling inflation fears and risk aversion.
FII Exodus, IT Carnage Drag Indices
Persistent foreign selling amid tensions exacerbated pressure; IT index cratered 3.89%, HCL Tech plunging 10.82%—9/10 constituents red—erasing billions in market cap. Global markets echoed the rout.
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Hindusthan Samachar / Jun Sarkar
