New Delhi, May 13 -- Stock market recap: The Indian equity markets faced a significant "Tuesday Tsunami," with Nifty 50 plunging 1.83% to settle at 23,379.55, while BSE Sensex crashed more than 1,450 points.

This sharp correction was primarily fueled by escalating geopolitical tensions in West Asia, with President Trump's remarks placing the U.S.-Iran ceasefire on "life support," subsequently driving Brent crude prices toward $106 per barrel. Locally, the Indian Rupee hit a fresh lifetime low of 95.51 against the dollar, further dampening investor sentiment.

The sell-off was broad-based, as reflected in a severely skewed advance-decline ratio, with 590 stocks advancing and 2,726 stocks declining. On the sectoral front, Nifty IT was the ...