Stock markets plunged on Wednesday, July 22. The Sensex declined 715.06 points and ended the trading day at 76,755.05 and the Nifty declined 191.45 points and closed at 23,996.25. Heavyweight stocks dragged the markets down, such as the entire IT pack. Nearly 40 Nifty stocks slipped as much as 4 percent each including banking majors. Oil prices spiked as much as 4 percent with Brent Crude crossing 95 dollars per barrel following the fresh US-Iran escalation. The Indian rupee also weakened by 33 paise and closed at 96.57 to the dollar versus Tuesday’s close of 96.24 to the dollar.
