Domestic benchmark indices Sensex and Nifty resumed their losing run on Wednesday as Iran launched fresh missile attacks on Bahrain, Kuwait and other regional allies of the US. Brent crude rates rose 1% to $97 per barrel. The oil rate had surged to $126.41 per barrel amid the effects of US-Iran war on the global economy. 

Sensex plunged 700 pts to 73,949 and Nifty lost 185 points to 23,299 in early deals today. 

Among Sensex constituents, TCS, Tech Mahindra, Infosys, HCL Tech, Eternal, ITC, Axis Bank, SBI, Bajaj Finance shares were the top losers falling up to 6%. 

Adani Ports, Maruti,  Tata Steel and Bharti Airtel were the only Sensex gainers rising up to 1.04%.

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VK Vijayakumar, Chief Investment Strategist, Geojit Investments said, "The mild escalation in the West Asia conflict has again pushed up Brent crude price to close to $97 indicating no respite to India from the energy shock. Rupee has edged down to 95.26 to the dollar. The sustained fall in the rupee has been arrested for now but the rising current account deficit and sustained FPI outflows are areas of concern. The RBI commentary and actions on June 5th will be keenly watched by the market." 

As many as 61 stocks hit their 52-week highs today. On the other hand, 29 shares fell to their 52-week lows on BSE.

Market breadth was positive with 1198 shares rising against 1791 falling on BSE. 148 shares were unchanged. 

India VIX, the volatility index, of the Indian stock market rose 8% to 16.56 today against 15.36 on Tuesday. 

Previous session

Domestic equity benchmarks BSE Sensex and NSE Nifty snapped their four day losing streak on Tuesday, supported by value buying at lower levels and gains in information technology (IT) stocks amid geopolitical uncertainty.

At close, the Sensex jumped 382.50 points, or 0.52%, to close at 74,649.84. The Nifty also advanced, rising 100.95 points, or 0.43%, to settle at 23,483.55.