New Delhi, April 22 -- Indian equity benchmarks witnessed sharp intraday losses on Wednesday, April 22, snapping a three-day gaining streak as global uncertainties and earnings-driven selling pressure weighed on sentiment. The selloff came amid cautious global cues, with Asian markets trading mixed as investors tracked developments around the U.S.-Iran conflict and fluctuating crude oil prices.

The Sensex dropped as much as 831 points, or nearly 1%, to hit an intraday low of 78,442.30, while the Nifty 50 slipped 224 points, or 0.9%, to touch 24,352.90. Weakness was led by IT and banking stocks, with the Nifty IT index tumbling nearly 4% after disappointing Q4 earnings and cautious management commentary from key companies.

Banking stocks...