Markets Crash 2%: Sensex Plunges 1,700 Pts, Nifty Below 22,850 Amid Global Turmoil

• Indian benchmark indices Sensex and Nifty fell over 2% each, marking a fifth consecutive weekly decline, the longest in eight months.
• Key factors for the market decline include profit booking after a recent rally, geopolitical concerns over the Iran war, and elevated Brent crude prices above $100 per barrel.
• Nifty PSU Bank index was the worst hit, down over 3%, with Bank of Baroda, Indian Bank, and Punjab National Bank shares falling over 4%.
• The Indian rupee hit a record low of 94.7 per dollar due to energy supply crisis worries, intensifying foreign outflows.
• India VIX, the volatility gauge, rose 8.7% to 26.8, indicating increased market nervousness and expected near-term selling pressure.