Nifty Strategy, March 9 -- Indian stock markets have been witnessing sharp losses as escalating geopolitical tensions in Middle East and a surge in crude oil prices triggered widespread risk aversion. Global uncertainty, currency weakness and rising bond yields continued to dampen investor confidence and trigger profit-booking across sectors.

Just in today's deals, Sensex hit its day's low of 76,573.01, crashing 2,345.89 points. Meanwhile, Nifty 50 tanked 711 points to 23,739.20. Investors lost Rs.12 lakh crore, as the overall market capitalisation of BSE-listed firms dropped to nearly Rs.438 lakh crore from Rs.450 lakh crore in the previous session.

According to Vinod Nair, Head of Research at Geojit Investments, the escalation of geop...