New Delhi, Sept. 15 -- The wave of selling gripped the Indian stock market during Tuesday's trade, September 15, dragging the benchmark indices lower by around 1%, as escalating tensions in the Middle East kept crude oil prices elevated, fuelling inflation concerns and strengthening expectations of central bank rate hikes.

Markets began the session on a weak note, tracking losses on Wall Street, and selling pressure persisted through the close, leaving little room for the bulls to stage a recovery.

Adding to the cautious sentiment, a sell-off in US Treasuries strengthened the case for a US Federal Reserve rate hike, keeping investors on edge ahead of the central bank's policy decision.

The Nifty 50 closed 1% lower at 23,172, breaking b...