The IT sector caused benchmark domestic market indices to drop by almost 1% today, ending a three-day gaining streak. The Nifty dropped 199 points to close at 24 thousand and 378, while the Sensex fell 757 points to conclude at 78 thousand and 516. On the National Stock Exchange, however, the Mid-cap 100 increased by 0.2% and the Small-cap 100 increased by more than 1.1%.
As investors assessed the escalating tensions in the Strait of Hormuz, where the United States will continue its blockade unless Iran accepts a ceasefire plan, markets had started the session on a bearish note.
