Mumbai, Oct. 8 -- Domestic equity market suffered a sharp selloff on Thursday, with benchmark indices falling to their lowest levels in 18 months as surging crude prices, a hawkish monetary policy stance and weak global cues weighed on investor sentiment. The Nifty 50 slipped below the 22,250 mark. All sectoral indices on the NSE ended in the red, while most IT shares bucked the broader market trend.

Selling was broad-based, with heavy pressure across sectors and sharper declines in rate-sensitive and economically exposed segments. The steep fall in broader markets and weak market breadth underscored the intensity of the risk-off sentiment.

The decline followed Wednesday's sharp losses and reflected growing caution among investors as th...