New Delhi, March 20 -- The domestic market suffered massive losses across segments on Thursday, bringing the Nifty 50 down to 23,002, due to a sharp jump in crude oil prices, fresh escalation in Middle East tensions, the U.S. Federal Reserve's hawkish tone, and aggressive foreign capital outflow. Foreign institutional investors (FIIs) sold off Indian equities worth Rs.7,558 crore in the cash segment on Thursday.

The Nifty 50 erased the gains seen in the previous three sessions in just a single session and breached the prior swing low around the 22,900 level during the day.

According to Ajit Mishra, SVP of Research at Religare Broking, these developments indicate that the corrective trend remains intact, with immediate support placed in ...