New Delhi, March 13 -- Nifty 50, the Indian stock market benchmark, ended with deep losses for the second consecutive session on Thursday, March 12. The index ended at 23,639, falling 228 points, or 0.95%, on Thursday. Over two consecutive sessions, it has suffered a loss of 2.6%.

No signs of war in the Middle East, rising crude oil prices, growing concerns over inflationary pressures, currency weakness, and foreign capital outflow have kept the market under pressure.

Ajit Mishra, SVP of Research at Religare Broking, pointed out that the Nifty has breached the previous swing low at 23,700 but managed to defend the support around 23,500.

According to Mishra, a decisive break below this band could trigger the next leg of decline towards ...