Stock market update, Aug. 13 -- Indian equities closed lower for a third consecutive session on Wednesday, weighed down by a sudden leadership shake-up at the Tata group and persistently elevated crude oil prices. The Nifty 50 slipped 35.75 points, or 0.15%, to close at 24,435.95, while the Sensex fell 187.90 points, or 0.24%, to close at 77,966.35, having fallen nearly 1% intraday before recovering some ground.

Sentiment turned sharply negative after Tata Sons Chairman N. Chandrasekaran said he would not seek reappointment when his term ends in February 2027, triggering a broad sell-off across Tata group stocks. Tata Consultancy Services tumbled as much as 6% intraday, while Tata Motors, Tata Steel, Tata Consumer, and Titan also came un...