Stock market recap, March 12 -- Indian equity markets faced severe downward pressure on Wednesday, as benchmark indices erased the previous session's gains to end sharply lower. Nifty 50 plunged 1.63% to settle at 23,866.85, slipping below the psychological 24,000 mark, while S&P BSE Sensex tanked 1,342.27 points or 1.72% to close at 76,863.71.

Sentiment was rattled by escalating geopolitical tensions in West Asia, which sent Brent crude prices surging above $91 per barrel, fueling inflation fears.

Domestic headwinds, including a weakening rupee, which touched 92.04 per dollar, and relentless FII outflows exceeding Rs.32,800 crore this month, further dampened investor confidence. On the sectoral front, Nifty Auto and Nifty Bank were the...