Sensex Drops 756 Points, Nifty Falls 198 on Weak IT and Higher Crude

Mumbai, Apr 22 (BNP): Indian equity benchmarks ended lower on Wednesday, with the Nifty declining 198 points and the Sensex falling 756 points, driven by weakness in IT stocks and concerns over rising crude oil prices.

The IT sector emerged as the key drag on the indices, following subdued global cues and profit booking in heavyweight technology stocks. Additionally, higher crude oil prices raised concerns over inflationary pressures and input costs, further impacting investor sentiment.

Market participants remained cautious amid global uncertainty, leading to broad-based selling across select sectors. Analysts highlighted that sustained strength in crude oil could continue to influence market direction in the near term.

Despite volatility during the session, markets are expected to track global trends and crude oil movements for further cues.