Stock market recap, April 23 -- Indian equity markets snapped a two-day rally on Wednesday, 22 April, as the Nifty 50 fell 198.50 points, or 0.81%, to close at 24,378.10. The BSE Sensex mirrored the decline, slipping about 757 points to end at 78,516.49.

The session was led by a sharp sell-off in IT stocks after HCLTech's double-digit fall following weak Q4 guidance, dragging the Nifty IT index down nearly 4%.

Sentiment was further pressured by geopolitical concerns after reports of a breakdown in the latest round of US-Iran peace talks, which pushed Brent crude toward $98 and lifted the India VIX by about 7%.

Despite the weakness in frontline indices, broader markets showed resilience. The advance-decline ratio stayed positive at 1,92...