New Delhi, April 7 -- Benchmark indices Sensex and Nifty 50 declined sharply on Tuesday, April 7, as surging crude oil prices and escalating uncertainty around the West Asia conflict weighed on investor sentiment. The Sensex fell 824 points to 73,282.41, while the Nifty 50 dropped 249 points to 22,719.30. Notably, both indices have corrected nearly 9.5% since the onset of the Iran conflict on February 28.

The weakness comes despite a strong rebound in the previous session, where the Sensex gained 787 points and the Nifty 50 rose over 1%. Brent crude climbed 1.2% to above $111 per barrel, adding to inflation concerns and pressuring equities. Continued outflows from foreign institutional investors (FPIs) have intensified the drop, with FPI...