India's equity markets plunged into sharp decline Thursday as geopolitical tensions roiled investor sentiment. The NSE Nifty dropped 3.3% to 23,002.15, marking its steepest single-day fall in nearly two years, while the BSE Sensex fell 3.3% to 74,207.24. Attacks on West Asian oil and gas infrastructure, including damage to Qatar's largest gas plant and Saudi refineries, sparked inflation concerns and triggered a broad-based selloff across sectors. The India VIX surged 21.8% to 22.8, signaling elevated volatility ahead. HDFC Bank's 5% decline weighed heavily after its non-executive chairman's abrupt exit. All sectoral indices closed lower, with Auto down 4.3% and Realty falling 3.8%. The sell-off erased ₹13 lakh crore in market value and prompted fresh short positions among traders.
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