•Indian equity markets saw a significant downturn with Sensex dropping 1,635.67 points (2.22%) to 71,947.55 and Nifty 50 declining 488.20 points (2.14%) to 22,331.40.
•The Rupee traded near the 95 mark against the US dollar, hitting a fresh record low despite RBI intervention and depreciating over 4% in March.
•Escalating geopolitical tensions in West Asia, particularly the US-Israel conflict with Iran, and surging Brent crude prices towards USD 108 per barrel fueled a risk-off sentiment.
•The banking sector, specifically Bank Nifty, underperformed significantly, dropping nearly 3.82% to close at 50,275, following RBI's tightening of rupee forex exposure limits.
•Foreign institutional investors remained net sellers, offloading Rs 4,367 crore, further contributing to the market's decline.
