Mumbai, Sept. 15 -- The key equity benchmarks ended sharply lower on Tuesday, reversing early gains. Rising crude oil prices and higher US Treasury yields weighed on sentiment. The sell-off intensified as investors awaited the US Federal Reserve's policy decision on Wednesday. The Fed is widely expected to raise interest rates by 25 basis points.

Brent crude climbed above $108 a barrel amid continuing Middle East tensions and supply concerns. The US 10-year Treasury yield also rose above 5%, reaching its highest level since 2007.

The Nifty 50 closed below the 23,150 mark, dragged by metals, consumer durables and other rate-sensitive sectors. However, IT stocks outperformed as comments suggesting slower AI development eased concerns over...