Indian equity markets plunged over two percent midday as banking and auto stocks led a broad selloff. The Sensex fell 1,928 points to 76,990 while Nifty 50 dropped 588 points to 23,861, recovering slightly from intraday lows. Midcap and smallcap indices declined around 2.5 percent, signaling widespread investor risk aversion. Banking stocks tumbled up to five percent, with State Bank of India and Tata Motors among the largest losers. Auto, oil and gas, and private banking sectors also experienced steep declines between three and 4.5 percent. Global weakness and surging crude oil prices amid Middle East tensions pressured sentiment, while persistent foreign fund outflows added further downward pressure on fragile market conditions. All sectors traded in negative territory as geopolitical risks and supply disruption fears dominated trading activity.
