Indian markets tumble amid geopolitical tensions and crude surge. Sensex fell 1.58% to 74,081.69 while Nifty 50 dropped 1.49% to 22,959.80 during midday trade Friday. Iran war fears and elevated crude oil prices at $108.01 per barrel triggered broad-based institutional selling. Market breadth deteriorated sharply with 3,342 BSE stocks declining against only 847 advancing. Aviation and financial stocks led losses as IndiGo fell 4.14% and Shriram Finance dropped 4.38%. India VIX surged to 24.64, signaling elevated investor anxiety. ONGC bucked the trend, gaining 4.24% on higher crude realizations, while IT stocks like TCS and Wipro saw selective buying from rupee depreciation tailwinds. Nifty slipped below the critical 23,000 support level as crude-driven inflation concerns pressured sentiment.
