India, Sept. 2 -- Indian benchmark indices fell sharply in early trade on Wednesday as fresh US strikes on Iran escalated the Middle East conflict, sending oil prices higher and rattling global markets.

The Nifty 50 fell 0.82% to 23,858, while the BSE Sensex shed 0.61% to 76,471.32 as of 9:15 am. All 16 major sectors were trading in the red, while the broader small-cap and mid-cap indices also declined.

The immediate trigger was a fresh wave of US strikes against Iranian military targets, followed by Iranian retaliation against US assets in the region.

The US Central Command said its latest operation targeted Iranian air defence sites, radar systems, maritime assets, mine-laying capabilities and communications sites. Iran, meanwhile, r...